The implementation of the national Research Engagement and Impact Assessment in Australia provides a timely opportunity to review attempts to improve the non-academic impact of academic research. The impact agenda represents a new phase in academic research evaluation and funding, characterised by a heightened need to demonstrate a return on public investments in research. New imperatives seek the reorientation of some academic research towards more directly driving national innovation, meeting the needs of business, and contributing to improved social and economic outcomes. This paper reviews the policy journey of research impact in Australia from the proposed, but never implemented, Research Quality Framework (RQF) to the National Innovation and Science Agenda (NISA). Our analysis of policy developments from the Howard to the Turnbull Governments highlights the controversial nature of research impact assessment and the political and methodological challenges that have accompanied its implementation.