R&D tax credit will keep Australia competitive, says trade group

The R&D tax incentive legislation reintroduced to the Australian Parliament this week has the potential to make the country more globally competitive as an investment location for pharmaceutical R&D, Medicines Australia chief executive Brendan Shaw said.

“This legislation provides both local and international companies with an additional incentive to invest in R&D in Australia,” Dr Shaw said, adding: “It is an extremely positive and beneficial measure and I call on all parliamentarians to support it.”