Why conduct your clinical trial in Australia
There are several advantages to conducting a clinical trial in Australia such as:
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Excellent telemedicine infrastructure to enable remote case support
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Some of the world’s best researchers and health professionals
- World-class research infrastructure and excellent quality research
- A very a stable political environment
- A robust intellectual property infrastructure
- Efficient ethics and regulatory framework
- Diverse participant recruitment pool
The Australian Government is invested in providing resources and incentives such as the Research & Development (R&D) Tax Incentive
The Incentive provides businesses investing in eligible R&D with generous tax offsets:
- a 45 per cent refundable R&D tax offset (equivalent to 45c per $1 of eligible R&D) for companies with aggregated annual turnover of less than A$20 million; and
- a 40 per cent non-refundable R&D tax offset (equivalent to 40c per $1 of eligible R&D) for all other eligible companies.
Other benefits under the new R&D Tax Incentive include:
- Clinical trials can be eligible R&D activities under the program and are considered for eligibility under the same rules as any other activity;
- The Incentive provides for increased access by international companies. In particular, there is no requirement to hold the intellectual property in Australia;
- Certainty and stability of the rate of support to companies as the rates are no longer linked to the company tax rate;
- Increased level of expenditure that can be claimed on R&D activities undertaken overseas in support of Australian R&D projects, under certain conditions.
Please refer to Australian Taxation Office Government link below:
www.ato.gov.au/Business/Research-and-development-tax-incentive
Clinical Trials Industry Capability Report
The Australian Government Trade Commission, Austrade, have developed to encourage companies around the world to identify and take up investment opportunities in Australia. The Industry Capability Report includes an overview of Australian industry strengths along with examples of organisations and their capabilities. The report can be found at
https://www.australianclinicaltrials.gov.au/resources-clinical-trials-australia
Further information can be found at:
https://www.business.gov.au/Grants-and-Programs/Research-and-Development-Tax-Incentive
https://www.industry.gov.au/funding-and-incentives/research-and-development-tax-incentive