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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 incentive!
Did you know about this? Would you do it if you could?
I’ll get to meet Trevor at the Investment-in-Innovation (IN3) Medical Device Summit, now in its 12th year. The event pairs medtech companies with buy-side strategics and VCs like Trevor.
If you’d like to join us (San Francisco, Nov 6), visit http://medgroup.biz/IN3 and use code “MDG” to save $400. If you’d like to present to the VCs, email me at [email protected].
Discussions This Week:
Helping Doctors Without Borders
Technical File Structure – Class I and IIa devices
Metal-on-metal hip implants: Fail or epic fail?
Use of 304 stainless steel in medical devices?
How long did it take your Class IIa device to get CE marking?
9th ANNUAL FDA INSPECTIONS SUMMIT
My friend Jeff Grizzel with FDANews.com (it’s free; do you subscribe?) is gathering top officials from CDER, CDRH, CBER, the Office of Regulatory Affairs and other outstanding industry leaders to discuss debate and uncover the latest priorities, expectations, and best practices.
http://medgroup.biz/FDA-Inspection-Summit for information and early-bird pricing through Sept 19.
It’s appropriate for executive management, regulatory affairs, quality assurance, quality control, legal and compliance, and service providers.
Make it a great week.
P.S. Especially see http://medgroup.biz/IN3 if you’re a drive from the San Francisco area. The conference organizers will let you attend only the cocktail hour if you can’t make the whole event. Then you can meet me and Trevor in person. Email me for details.
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