The review was informed by more than 90 submissions and consultations with leaders of business and research. The panel found that the Research and development (R&D) tax incentive could do more to encourage additional research and research spillovers into other sectors.
The review panel made 6 recommendations aimed at improving the performance of the program to enable it to continue long-term.
Three of these recommendations encourage research that would otherwise not take place, known as ‘additionality’. These include providing extra incentives for businesses to hire PhD graduates and to collaborate with Australia’s world class research institutions.
The other 3 recommendations seek to strengthen the integrity and effectiveness of the program, including through reducing compliance costs for companies.