R&D tax credit best in world

The Australian Government’s proposed R&D Tax Credit is rated the world’s best system for providing incentives to foster R&D activity, according to a report just released by KPMG.

The Competitive Alternatives 2010 Special Report: Focus on Tax states: “the most dramatic change is for Australia, moving up from fifth place in 2008, to first in 2010. This change is a result of Australia adopting a new R&D tax credit system as of July 1st, 2010”.

“An unsolicited endorsement by an international firm of KPMG’s breadth and depth of experience is one of the strongest possible vindications of the Australian Government’s new R&D support measures,” Innovation Minister Senator Kim Carr said.

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