'This will hurt': Innovation stifled by tough R&D scheme, say founders
By administrator | 5 November 2018
Emma Lo Russo wants to invest in research and development to boost her business, but she is frustrated.
“I feel confident we are doing the right thing, but I’m not going to invest next year,” she says.
Lo Russo’s business, Digivizer, has been claiming Australia’s research and development tax incentive for the past five years, relating to a range of software development projects for its digital content tracking tools.
Hours of work
Lo Russo said the incentive had been invaluable in growing her business. But Digivizer, which turned over more than $5 million last year, is spending hours proving itself to AusIndustry.
The organisation is reviewing two research and development tax incentive claims that were granted to the business over the past two years.
“To go through the exercise of showing we’ve done the right thing, we’ve spent another $22,000,” Lo Russo says.
Digivizer has featured on several lists of fast-growing companies in recent years and Lo Russo says the company can clearly show the value of its research and development projects. Read more
Comments
Your email address will not be published.
We welcome relevant, respectful comments.