@AuManufacturing’s new report on its editorial series Towards 3% – turbocharging Australia’s innovation efforts has hit a nerve with readers (you can download the free e-book below). Here @AuManufacturing sat down with Ryan Pollett and Nicola Purser from public accounting, tax, consulting and business advisory BDO, to understand the importance of the series and report.…
IDT Australia secures Sanofi contract Pharmaceutical development company IDT Australia has secured a follow on contract with pharma giant Sanofi Australia for preclinical formulation, development and manufacture of Sanofi’s messenger RNA (mRNA). The contract, worth up to $4 million, continues the company’s advancement of mRNA-based vaccine formulation, development and manufacture at IDT’s aseptic sterile injectables…
Move over panda diplomacy, toast two way trade with Penfolds Grange Move over panda diplomacy, the local wine industry has been recruited to treat visiting Chinese Premier Li Qiang. Trade Minister Senator Murray Watt welcomed Li to lunch at Penfolds Magill Estate winery in Adelaide (pictured), the home of the company’s famous Grange. Watt said:…
South Australian households to take to smart energy appliances Five hundred South Australian households are set to go energy-smart in a new project announced by the Australian Renewable Energy Agency (ARENA) and electricity distributor SA Power Networks. ARENA is providing $6.2 million to SA Power Networks’ $13.8 million ‘Energy Masters’ project. The project will see…
Today in our editorial series – Towards 3% R&D – Turbocharging Australia’s Innovation Effort – we turn to the main support mechanism available for innovation – the R&D Tax Incentive. By Kris Gale. In Minister Husic’s 3% R&D drive to survive, one constant refrain in the Government’s innovation support story is the need to make…
Today in our editorial series – Towards 3% R&D – Turbocharging Australia’s Innovation Effort – we turn to the role of national industry policy. Here Roy Green points to innovation and the success of a Future Made in Australia as intertwined. While lacking detail at this stage, the significance of Prime Minister Albanese’s Future Made…
By Peter Roberts Australia has a modest R&D tax incentive programme which rewards innovative young companies with a tax refund based on their R&D spending. But those same small companies face a refund cliff should they grow too big – the scheme returns tax on the basis of R&D performed only up to a company…
a2 Milk Company grows despite decline in China market The a2 Milk Company, which pioneered the use of a2 proteins in milk as a healthy alternative, has reported positive results for 1H24. Revenue was up 3.7 percent to $812.1 million and EBITDA profit up five percent to $113.2 million despite a double-digit decline in the…
Industry organisation AusBiotech has released a new report calculating the return from the federal R&D tax incentive reached $3.14 for each dollar of forgone tax revenue. The Economic impact of the Research & Development Tax Incentive for the biotech industry report (linked here) was developed with Deloitte Access Economics, and estimates that the RDTI for…
XRF Scientific announces record full-year result Analytical laboratory instrument manufacturer XRF Scientific has announced its results for the June 2023 full-year, with sales revenue up 38 per cent to $55.2 million, net profit after tax up 26 per cent to $7.7 million, and the company paying a final fully-franked dividend of 3.3 cents per share.…