Biotech

William Buck is the leading accountant and advisory firm in Australia for life sciences and biotech companies

Australia is a leading destination for biotech innovation thanks to our strong government commitment, support and investment into the life sciences sector providing biotech and pharma companies with world class researchers, clinicians and knowledge.

Further strengthening Australia’s appeal is the R&D Tax Incentive (R&DTI), which supports eligible companies undertaking research and clinical trials. Companies with aggregated turnover below $20 million may access a refundable R&D tax offset of 43.5% or 48.5% of eligible R&D expenditure, depending on their applicable company tax rate.

The resulting benefit can be reinvested into future research and clinical trials, supporting continued innovation and growth in Australia.

Our services

Company incorporation

A company is the most common structure for entering the Australian market. We can assist you incorporate a company, appoint directors and complete all tax registrations. We can also provide the registered business address for corporate purposes.

Corporate secretarial and ASIC lodgements

Our corporate secretarial service will assist you keep up to date on compulsory corporate regulator filings.

International structuring and tax advice

As a cross-border company, a number of international tax considerations will need to be considered and addressed. Broadly, biotech companies will require assistance with forward-looking tax structuring advice, as well as assistance with complying with Australia’s complex international tax law. We have experience advising on tax planning, transfer pricing, efficient profit repatriation, thin capitalisation, MAAL/Diverted Profits Tax and double tax treaties.

R&D tax incentives and grants

Inbound biotech companies with aggregated turnover of less than AUD$20m can receive a refundable R&D tax incentive rebate equal to 43.5% of eligible R&D expenditure. A smaller, non-refundable tax offset applies to other larger companies. With our extensive experience working with inbound biotech companies and an emphasis on quality, we can help you plan and access the R&D tax incentives. We also provide assistance with certain other grants based on their application window.

Outsourced accounting and payroll

We provide a full outsourced accounting solution including payroll, superannuation (pension), bookkeeping and management reporting capabilities such that the financial functions of your Australian biotech is managed seamlessly with your head office.

Audit

Inbound biotech companies are often required by the parent company or the Australian corporate regulator (ASIC) to undertake an audit of its financial statements. Our audit team has extensive experience providing quality, timely and efficient audits for inbound biotech companies. Our client experience is unique – we are supportive and seek to work with you to navigate the complex financial reporting and auditing standards so that the burden on your finance team is minimised.

Tax compliance

As a registered tax agent, we can assist you keep your tax filing up to date. Biotech companies generally require assistance with the annual corporate tax return and quarterly or monthly “Business Activity Statements” (BAS).

Supporting innovation companies from discovery to commercialisation and exit

We work with biotechnology, medtech, pharmaceutical and healthcare organisations at every stage of the business lifecycle. From early-stage research and discovery through to clinical development, commercialisation, capital raising, international expansion and exit, we provide integrated accounting, tax and advisory services designed to help innovative organisations grow with confidence.