Federal Budget 2021 – Welcome Initiatives

Date Posted – 12 May 2021

From our CEO, Jeff Malone GAICD on the new budget…

This new budget outlines a number of very welcome initiatives including continued and consistent support for the R&D tax incentive and investment into Biotech and the health industry overall.

These are important steps towards improved bio-security and towards helping companies translating their research into new medicines, medical devices or other Biotechnology. Through initiatives like the Patent Box, we can better leverage the investments we make in research into 100x more long-term benefit through securing manufacturing right here at home.   The Health Industry and Biotech Manufacturing will be foundational cornerstones of the economy going forward as we come through this difficult period.

Now we need to ensure the final design of the Patent Box meets the needs of the industry, so our work is not yet done.

You can read about these and other initiatives within the budget that may impact you or your business within the report published today by KPMG – https://bit.ly/3hxzCgz

– Jeff Malone CEO BioMelbourne Network


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