Introduction of a Patent Box
By EsqSocial Corporation 17/05/21
As announced in the Federal Budget 2021-22, the Government will encourage innovation in Australian medical and biotech technologies by introducing a "patent box" system. From 1 July 2022, the patent box will tax income derived from Australian medical and biotech patents at a 17% effective concessional corporate tax rate (as opposed to the current corporate tax rate of 30% for large businesses and 25% for small to medium companies). Income from manufacturing, branding and other attributes may...
By: K&L Gates LLP