Australia's Massive MedTech Tax Incentive (from the LinkedIn Medical Devices Group)
Did you know there's millions of Australian tax incentive dollars waiting for medtech companies?
Venture capitalist Trevor Moody explains there's a well-established program to bring medtech R&D to Australia.
For medtechs with less than $20MM in sales, the Australian Federal Tax Office gives 43.5-percent rebates on all R&D dollars spent. That's real cash – not a credit.
To get the cash, Trevor said you need to have a presence in Australia. "It could be as little as one administrator in a local office. It requires due diligence but Australian accounting firms are eager to help."
He adds, "Financially it makes sense if you're spending more than a million. But clinically, it makes all the sense in the world. Australia has a streamlined ethics (institutional review board, IRB) program that helps you get approvals to run your study, globally regarded physicians, and a network of service providers to facilitate your work."
I know this topic will translate for some as yet another reason to do business outside the United States (see medical device tax and tax-inversion strategies) but what an incenti...
