KPMG welcomes the opportunity to provide a submission in response to the Department of Industry, Science and Resources’ Strategic Examination of Research and Development (R&D) discussion paper.
In this submission, KPMG provides insights on some of the underlying assumptions in the Discussion Paper and considers how policies and practices can be aligned to effect meaningful change.
Strategic examination of research and development: Discussion paper
Strategic review of Australia's R&D system: KPMG Submission
R&D system
KPMG has participated in a number of R&D-related reviews including a submission in response to the Review of the dual-agency administration model, the Critical minerals production tax incentive Consultation Paper, and responded to the Inquiry into the provisions of the Treasury Laws Amendment (Research and Development Tax Incentive) Bill. In addition, KPMG has developed a number of R&D-focused reports such as Principles for an innovative software development tax incentive, Enterprising Cities, and A Prosperous Future: Biotech.
Key to KPMG’s recommendations in this submission is our thought leadership piece Supporting world-class research translation in Australia where different research translation models are compared, with challenges, principles and relevant opportunities outlined.
KPMG partners with industry, government and universities helping them innovate and grow and is therefore well placed to provide insights on existing limitations of our R&D system. We believe that addressing these shortcomings and changing our R&D system will be difficult and take time. However, the sooner we start, the sooner Australia will benefit from positive changes.
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This submission outlines nine recommendations at section one and directly addresses the consultation questions at section two. If you would like to discuss the contents of this submission further, contact us.
Strategic examination of research and development: Discussion paper
Strategic review of Australia's R&D system: KPMG Submission
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