A group representing Australia’s oldest innovation precinct has urged the federal government to consider new tax incentives for R&D infrastructure to counteract residential build-to-rent developments.
As governments stare down a housing crisis, attractive incentives designed to get investors to build more affordable rental housing stock could “cannibalise innovation growth space”, Connect Macquarie Park Innovation District (Connect MPID) has warned.
In its submission to the root-and-branch review of Australia’s R&D system, the group – which counts Macquarie University and Optus as members – said the agglomeration benefits of precincts like Macquarie Park are under threat.
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