Journal of Clinical Trials
Open Access
ISSN: 2167-0870
ISSN: 2167-0870
Tim Szalek
Australia
Posters & Accepted Abstracts: J Clin Trials
Did you know Australiaâ??s clinical trials environment is supported by a strong economy and generous government funding for innovation? This means globally Australia is one of the most attractive and stable locations to conduct clinical trials. â??Every year, over 1,000 new clinical trials are commenced in Australia by pharmaceutical, biotechnology, and medical device companies. Of this, approximately $830 million came from commercial entities, the majority via international inbound investment.â?? â??In early phase clinical trials, Australia is 28 percent cheaper than the US before tax incentives, and 60 percent cheaper after-tax incentivesâ?¦â?? For further information, please refer to Austradeâ??s industry capability report on clinical trials (published Jan 2018). However, not knowing how to navigate the rigorous and complex taxation rules may delay your clinical trial in Australia and put at risk access to government funding. If not properly set up, you may encounter eligibility issues precluding access from the R&D tax incentive program, increased audit risks, or transfer pricing concerns. In our presentation, we share practical advice related to: â?¢ â?¢ key tips to navigating the Australian landscape; â?¢ â?¢ the appropriate IP licensing agreements required; and â?¢ â?¢ how to set up royalty arrangements that meet the requirements of the taxation regime. Through our extensive network of industry experts, Glasshouse Advisory has developed a practical and straightforward methodology that ensures you meet your obligations in establishing a presence in Australia while minimizing your clinical trial costs. This ensures that you can take advantage of the regulatory benefits of conducting you trial in Australia.