Yep, saw that, thought it was a nice budget day gift for RAC.
Under the patent box, income earned from new patents that have been developed in Australia will be taxed at a concessional 17% rate – almost half the rate that applies to large companies.
Btw, this is a very entertaining annotated read of the speech, by the Guardian:
https://www.theguardian.com/australia-news/ng-interactive/2021/may/11/budget-speech-2021-australia-treasurer-josh-frydenberg-full-address-annotated-what-we-can-read-between-the-lines
Contains gems like on Patent Box "No relation to Pandora’s Box."
and - well. Just read it if you're interested...
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