According to Sen. Kim Carr's office the new R&D Tax incentive scheme will stimulate more Australian businesses to undertake R&D compared to the 8,000 businesses under the old tax concession.

Small innovative companies are the big winners under the new scheme with greater access to cash refunds for their R&D expenditure and more generous rates of assistance. The new R&D Tax Scheme will focus on supporting genuine research and development which is to be worth $1.5billion a year to industry.