Changes to R&D tax rebates ‘will undermine clinical trials’

Critical areas of Australian medical research will be “forced offshore” and highly skilled jobs will be lost if the federal government goes ahead with changes to its R&D tax rebate scheme, a major biotechnology industry group has warned.

In an AusBiotech statement on 9 April, chief executive Glenn Cross said the proposed changes will affect 17 per cent of medical companies that claim rebates under the federal R&D Tax Incentive programme.

The changes, which are likely to be announced in the 2018-19 budget in May, will include a $4-million cap on annual rebate claims by companies and a $400m company lifetime claim limit.