Jun 10, 2026 – 8.00pmA leading Australian scientist and former Angel Investor of the Year says the government’s changes to the R&D tax incentive and capital gains tax discount might force his operation overseas to raise capital for groundbreaking medical trials, as Labor continues to face pressure from business leaders over the budget’s impact on investment.In a submission to next week’s Senate inquiry into the tax changes, Professor Tim Hirst, a microbiologist and chief executive of biotech company GPN Vaccines, says the tax changes would have a “devastating impact on our world and the wider sector”.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Budget tax changes will be ‘devastating’ for biotech sector
A CGT carve-out alone will not save the industry from the proposed changes, says a leading scientist and angel investor. It will need R&D relief as well.
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