The Federal Government is introducing a new funding model for research in Australian higher education institutions, the Research Quality Framework (RQF). This paper provides an overview of the RQF and looks at possible impacts of the RQF on academic libraries in Australia. These impacts are drawn from experience at one Australian university, RQF-related activities, and commentary and research from the UK, where a similar funding model, the Research Assessment Exercise (RAE), has been operating for a decade. The paper concludes by bringing these issues together with suggestions for academic libraries preparing for the 2008 RQF. (Contains 20 notes.)