Industry Research and Development Amendment (Industry Innovation and Science Australia) 2021

✦ Plain-English Summary

# Industry Research and Development Amendment (Industry Innovation and Science Australia) 2021

## What it does
The government has renamed "Innovation and Science Australia" to "Industry Innovation and Science Australia". This is a purely administrative change that updates the organisation's name throughout all relevant laws, including tax and venture capital legislation.

## Why it matters
The rename clarifies the organisation's role in supporting industry-led research and development. For businesses and researchers who interact with this body, the name better reflects what it actually does — connecting science with practical industry needs.

## Key details
- **The name change**: Every mention of "Innovation and Science Australia" in tax law, venture capital law, and R&D legislation is updated to the new name
- **Effective immediately**: The changes took effect the day after the bill received Royal Assent
- **No operational changes**: This is a name-only amendment — the organisation's powers, functions, and responsibilities remain exactly the same

Official Description

Amends the: Industry Research and Development Act 1986 to rename Industry and Innovation Australia to Industry Innovation and Science Australia; and Income Tax Assessment Act 1997 , Pooled Development Funds Act 1992 , Taxation Administration Act 1953 and Venture Capital Act 2002 to make consequential amendments.

Full bill PDF →APH page →

Audit History

Introduced

17 Feb 2021

Last updated on APH

10 Apr 2026

Outcome date

10 Sept 2021

Last checked by Crossbench

2 days ago

Full text indexed

2 days ago

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