Dental News - New tax on medical devices will hurt small businesses, says ADIA

Dental Tribune International

Tue. 24. April 2018

save

CANBERRA, Australia: The Australian Dental Industry Association (ADIA) has this week reported that small businesses will be hit particularly hard by a new tax proposed by the nation’s regulator of dental products and other medical devices, the Therapeutic Goods Administration (TGA). Businesses would be required to pay the new tax to supply new and innovative products lawfully in the medical and dental industries. ADIA has asked that implementing the tax be delayed to allow public consultation.

In February, ADIA welcomed a change in legislation to the way the TGA regulates medicines and medical devices. At the time, ADIA CEO Troy Williams said the reforms would “cut the red tape associated with introducing into the Australian market new and innovative patient treatment and diagnostic options”.

Commenting on the newly proposed tax, Williams said, “Small businesses across the dental industry are concerned about the proposed $530 medical devices tax that the TGA wants to charge businesses placing new products on the register of medical devices that can be lawfully supplied in Australia. For many of these businesses it will affect the commercial viability of making available new and innovative dental products.”

The TGA initially suggested 12 months ago a new tax for placing low-risk (Class 1) medical devices on the Australian Register of Therapeutic Goods. However, it has now been established that, at the same time as changes to legislation took place regarding the regulation of medicines and medical devices, the TGA formally documented that the tax would in fact go ahead.

“The TGA’s commitment to engaging with industry on amendments to the quantum of funds it currently extracts from business has, and continues to be, first-rate; however, with respect to this new tax there has been no formal process of public consultation to assess the impact on small business,” said Williams.

The proposal to introduce the new medical devices tax has been placed before the health minister for consideration. ADIA has formally asked the TGA to withdraw its recommendation so that an appropriate level of public consultation can take place.

Tags:

To post a reply please login or register

New medical devices regulation: EU reaches deal

ADDE considers the agreement on the EU medical device regulation a good compromise. With the new rules, the European level of safety in medicine and ...

First stakeholders meeting on medical devices

Dear ADDE members and supporters, the first stakeholder meeting in Brussels on 23 February provided a great opportunity for promoting European dentistry and...

European Parliament adopts new medical device regulations

BRUSSELS, Belgium: The European Parliament has voted to implement two new regulations concerning medical devices with the aim of improving safety in ...

Medical device regulations are on track

BRUSSELS, Belgium: In April, the European Parliament voted to implement a pair of new regulations concerning medical devices. First proposed in 2012 by the ...

EU wakes up to new medical device regulations

BRUSSELS, Belgium: After a three-year transition period and a delay of 12 months owing to the SARS-CoV-2 pandemic, new regulations now apply for medical ...

New FDA-approved device will help detect Barrett’s esophagus

CLEVELAND, U.S.: Researchers at Case Western Reserve University School of Medicine and University Hospitals Cleveland Medical Center are celebrating the ...

New medical device may help reduce opioid use and prescription

CLOSTER, N.J., U.S.: Many dental professionals have recognized the benefits of using cryotherapy for oral pain management and swelling relief in dentistry, ...

Interview: EAO Digital Days will deliver online content in an entirely new way

This year’s Annual Scientific Meeting of the European Association for Osseointegration (EAO Digital Days), which had been scheduled to take place in ...

European Commission defines scope of custom-made medical devices

BRUSSELS, Belgium: At the request of the Fédération Européenne et Internationale des Patrons Prothésistes Dentaires (FEPPD;European and international ...

This is how SARS-CoV-2 is affecting dental businesses in Switzerland

BERNE, Switzerland: The virus SARS-CoV-2 has a firm grip on the world and is affecting how people live their daily lives. In Switzerland, as in many other ...

Education

Live webinar
Fri. 26 April 2024
12:00 pm EST (New York)