The Government announced today the appointment of “experts” from across small business and industry will oversee Australia’s new R&D Tax Incentive. The new R&D Tax Incentive Advisory Committee has been established to ensure the program provides the intended benefits to Australian industry from increased investment in research and development. The R&D Tax Incentive Advisory Committee will also be responsible for canvassing a broad range of views on the operation of the R&D Tax Incentive. It will consider program performance data and analysis provided by the Department of Innovation, Industry, Science and Research and the Australian Taxation Office.
The new R&D Tax Incentives an incentive for Australia’s creative firms and individuals to invest in new ideas, products and services. It is also a key opportunity for researchers to connect to industries. This Incentive is the biggest change to the way the government has supported R&D in a long time. This committee of “experts” will monitor the performance of the program and provide advice to Government on its implementation and operation.
The R&D Tax Incentive Advisory Committee comprises only one real business :
Mr David Miles AM Innovation Australia chairman who will chair the advisory committee.
Dr Nicholas Gruen Newly appointed to the Innovation Australia Board
Mr Innes Willox You guessed it, also newly appointed to the Innovation Australia Board
Mr Serg Duchini National R&D Partner Deloitte Touche Tohmatsu
Ms Kathy Kelly Director of Boyce Chartered Accountants
Dr Anna Lavelle CEO of AusBiotech
Mr Sam Turnbull CEO of Flipscreen, an SME based in rural NSW (the only member who has actually conducted R&D)
Scientists, engineers and researchers appreciate representation from “experts” who are not involved in developing innovative technology or operating in a real business in the current economic climate. To really understand the challenges and support require the Committee should comprise past and present executives of successful Australian technologies. Sorry Mr Carr but the money being paid to the “R&D Club” is a waste of Taxpayers funds.