Australian biotech provides bang for buck, study finds

Advocacy group report says tax breaks are driving biotechnology research boom

Biotechnology R&D is contributing billions to the Australian economy with the support of tax breaks, according to a new report.

The report from consultancy Deloitte Access Economics, commissioned by advocacy group AusBiotech, looks at the impact of the federal Research and Development Tax Incentive (RDTI), concluding it has had “a pivotal role” in driving growth in the agriculture and health sectors.