Skilled jobs to flow from new R&D tax credits

An independent economic analysis has confirmed the new Research and Development (R&D) Tax Credit will help small and medium sized firms grow and transform their business under a carbon tax economy, according to a statement released by the Government.

Welcoming the Australian Business Foundation report, The BERD in the hand: Supporting Business Investment in Research and Development, Innovation Minister Senator Kim Carr said Australians can expect a boost in the number of high-skill, high-wage jobs to flow from the introduction of the R&D Tax Credit.

“The report looks at the merits of the Credit and confirms it is an improvement on the current R&D Tax Concession. It says the policy behind the Credit is sound and urges its immediate introduction because further delays will have a negative impact on the R&D activities of small and medium sized firms,” Senator Carr said in the statement.

For a copy of the report visit www.abfoundation.com.au
For more information on the R&D Tax Credit visit www.innovation.gov.au/rdtaxcredit