Australia is quickly becoming a global leader in early-stage preclinical and clinical trials. 

This is due to several factors, such as:

• Access to world-class scientific talent, companies, and facilities;
• Strong clinical trial capability, with globally superior sites and CROs recognized by GLP guidelines;
• An efficient ethics and regulatory framework that enables rapid entry to first-in-human and other clinical studies;
• Internationally recognized standards by the FDA and EMA;
• A large clinical trial participant recruitment pool with diverse ethnicities;
• Cost efficiencies for R&D and clinical trials, thanks to Australia's generous R&D Tax Incentives scheme, R&D loans, potentially favourable exchange rates, and reduced labour costs compared to other Western countries; and
• Potential access to Australia's proposed Patent Box scheme for reduced income tax rates for commercializing Australian-held IP.

See Insight – Australia: A go-to destination for clinical trials - Austrade and Why conduct a clinical trial in Australia | Australian Clinical Trials for further information but note R&D Tax Incentive rates reported may not be current.

However, setting up and operating a business in Australia to access these benefits comes with having to navigate various regulatory requirements which is not easily understood by many life science companies. 

We at RSM can act as your landing pad in Australia. We will collaborate with you, the relevant RSM lines of services required by your business and external service providers to support your current and future business objectives in a streamlined manner

We provide timely business, financial, and tax advice to ensure tax-effective structuring and compliance with extensive local tax obligations.

• Our inbound services may include:
• Tax structuring;
• R&D Tax Incentives and government grant support;
• R&D financing; 
• Preparation / review of relevant legal agreements;
• Transfer pricing framework and documentation; 
• Bookkeeping and accounting;
• Business and tax compliance;
• Audit and assurance (as required);
• Assistance with locating a suitable resident director (external service provider);
• Introductions to CROs / CMOs.