University welcomes proposed R&D initiative
The University has welcomed Labor’s election commitment of a research and development premium tax concession for businesses collaborating with universities and other publicly-funded research institutions.
Deputy Vice-Chancellor Research Jim McCluskey said Labor’s commitment to a 10 per cent rate was a positive development for the higher education sector.
“For a number of years, the University of Melbourne has been advocating for an initiative that provides more incentive for businesses to work with universities on research and development,” Professor McCluskey said.
“Our own advocacy has been supported by Universities Australia, the Go8 and Research Australia reflecting broad sector support for this policy. We hope to see bipartisan support for this and further opportunities for industry to work together with universities and boost innovation that benefits our community.”
Professor McCluskey said the proposed research and development tax concession would help to establish, maintain and grow research links with industry.
“Industry has a vital role to play as a research partner with our University and to help make a real difference in society. We already work collaboratively with many industry partners, but we want to do more together in the future. The proposed initiative would be a major step forward to make this happen.”