Commonwealth Government financial incentives for developing IP

The content in this section is subject to change and should not be acted upon without seeking appropriate professional advice.

The Commonwealth Government provides a range of financial incentives for companies developing or acquiring IP.

Research and development (R&D) tax concession
The R&D Tax Concession is the Commonwealth Government’s major form of financial assistance to assist IP development. The program is administered by the Department of Innovation, Industry, Science and Research www.innovation.gov.au. The R&D Tax Concession is an open access incentive that applies to companies and public trading trusts (that is, trusts that are treated like companies for tax purposes). It operates on a self-assessment basis for businesses that spend more than $20,000 each year on eligible R&D.