Tax breaks tipped to trigger innovation boom
Share The country’s innovation giants say tax breaks for profits generated on local intellectual property will nurture high-value, local jobs and foster new companies, despite Australia still offering significantly weaker incentives than countries such as Britain and Singapore. Australia joins 24 other countries with patent box schemes, which offer lower tax rates on profits generated from local intellectual property. Cochlear boss Dig Howitt has been a major advocate for the establishment of a patent box. Rhett Wyman The introduction of a 17 per cent tax rate for locally developed biote...
Source: afr.com
