Biotech sector fears govt cap on R

Biotech sector fears govt cap on R


The Australian biotechnology sector fears the federal government may move to cap tax refunds on research and development expenditure at $2 million in the upcoming budget, which it says will stymie the clinical development of medical treatments and cost jobs. AusBiotech, the umbrella group for the local sector, says it opposes a recommendation of a 2016 review of the R&D Tax Incentive that proposes a $2 million cap on the annual cash refund payable.



from Biotech News