The Turnbull Government is encouraging feedback from Australia’s research and development (R&D) community, businesses and industry groups and other stakeholders on the R&D Tax Incentive Review findings released today. The review was undertaken by Chair of Innovation Australia Bill Ferris, Australia’s Chief Scientist Alan Finkel and Secretary to the Treasury John Fraser, to: “Identify opportunities...

This opening statement provides an update on forecasts for the Australian economy contained in the 2016-17 Budget Estimates. The Budget forecasts indicate that the Australian economy continues to transition from mining investment-led growth to broader-based growth. But real GDP growth is forecast to be below potential over the next two years at 2½ per cent...

The Charter of Budget Honesty Act 1998 (the Charter) outlines arrangements under which the Secretaries to the Treasury and the Department of Finance (the Secretaries) may be requested to cost election commitments during the caretaker period prior to a general election. The Charter also allows for the Secretaries to jointly issue written guidelines recommending approaches...