News & Trends - Medical Technology

Government assistance for the Australian MedTech sector

Health Industry Hub | May 4, 2020 |
[Total: 1    Average: 4/5]

MedTech News: The Medical Technology Association of Australia (MTAA) wrote to Minister Hunt recently outlining the very significant pressures facing the medical technology industry in the current environment and requesting a number of urgent measures to address the ongoing viability of Australia’s MedTech industry as the COVID-19 crisis continues.

The MTAA Board met with Health Minister Greg Hunt to discuss this and other matters, including the return to elective surgery and additional support measures for SMEs and Australian companies. 

Following this meeting and a period of intense discussions between MTAA and Minister Hunt and his office, a number of measures have been confirmed by the Minister in relation to PL reform.

MTAA has also been liaising with the Australian Tax Office (ATO) in order to seek clarity on the Jobkeeper provisions available to medtech companies, particular in relation to small companies where they are a local branch of a global company.

Register FREE and join 22,000+ industry professionals receiving the latest industry news and engaging content from Health Industry Hub, the ONLY one-stop-hub connecting Australia’s Pharma, MedTech and Biotech industry professionals.

The ATO have clarified that, in determining whether a company must show a 30% or a 50% reduction in turnover, the global revenue of the global entity of which it is a part is included. If the global entity exceeds $1b, at least a 50% reduction must be demonstrated to qualify.

However, once the threshold is set, the turnover test itself is based on local GST revenue, not global revenue. Therefore, a small company which is a local branch of a global company exceeding $1b in revenue in total would still need to show that Australian turnover has fallen more than 50% to qualify for JobKeeper.

If global revenues were less than $1b, the fall in Australian turnover would only need to be 30% to qualify.

Customer engagement during COVID-19. Fill the gap of reduced field force activities. Health Industry Hub combines expertise in delivering digital health content with high engagement and 20+ years industry experience. By industry for industry. Contact us.


About the author

About the author

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam luctus finibus scelerisque. Nunc bibendum ipsum sed augue fringilla fringilla. Nullam at consectetur leo. Praesent viverra rutrum porta. Quisque vitae mi vel purus vulputate tincidunt. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Suspendisse et mi quis nisi rhoncus feugiat at ac tellus. Sed aliquam sodales nulla ac auctor. Sed pretium lobortis purus accumsan ullamcorper. Phasellus sodales vel odio in lobortis. Duis maximus sagittis bibendum. Interdum et malesuada fames ac ante ipsum primis in faucibus. Nunc dictum tincidunt ipsum in vestibulum. Donec ut sem consectetur, aliquam quam vitae, pharetra orci. Nam egestas non velit eu rhoncus. Duis congue neque non lacus tincidunt porta. Vestibulum ultricies pulvinar sem, molestie congue dui aliquet non.
  • Ut imperdiet leo id lorem fermentum consectetur.
  • Ut vitae orci et dui varius tincidunt.
  • Ut id magna non libero vestibulum pharetra ac faucibus nulla.
Aliquam erat volutpat. Vestibulum vitae varius diam. Nulla eget congue ante. Nunc ullamcorper sagittis augue vel dictum. Mauris finibus nibh ut pulvinar auctor. Vestibulum ut faucibus nisi. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Quisque porta tortor ac justo malesuada elementum. Nulla tellus ante, cursus nec ex sit amet, suscipit bibendum arcu. Duis posuere orci dui, et mollis enim dictum at. Sed ullamcorper, sapien ut vulputate viverra, sem purus porttitor tellus, nec mattis mauris ligula sed risus. Nulla sagittis id ipsum eu mattis. Link to full profile

Leadership & Management

Leadership Management Qualities - COVID-19 wiping out hard-won gains by women in STEM

COVID-19 wiping out hard-won gains by women in STEM

Health Industry Hub | June 1, 2020 |

Hard-won gains for women’s advancement in the science, technology, engineering and maths (STEM) workforce are now at risk of a […]

More


News & Trends - Medical Technology

MedTech News - New agreement to end public hospitals' “harvesting” of privately insured patients

New agreement to end public hospital “harvesting” of privately insured patients

Health Industry Hub | June 1, 2020 |

MedTech News: The new National Health Reform Agreement has the potential to end the practice of public hospitals “harvesting” privately […]

More


News & Trends - Pharmaceuticals

Pharma News - GSK's targeted therapy for asthma gains PBS listing for self-administration delivery

GSK’s targeted therapy for asthma gains PBS listing for self-administration delivery

Health Industry Hub | June 1, 2020 |

Pharma News: From 1 June 2020, GSK Australia’s new pre-filled pen (autoinjector) for the self-administration of its targeted therapy for […]

More


News & Trends - Pharmaceuticals

Pharma News - Major changes to opioid PBS listings effective 1 June

Major changes to opioid PBS listings effective 1 June

Health Industry Hub | June 1, 2020 |

Commencing 1 June 2020, the Pharmaceutical Benefits Scheme (PBS) listings for opioid medicines will change including Tramal (tramadol) and Panadeine […]

More