2024-04-22 23:45
There is one week to go until the deadline for FY23 R&D Registrations.
Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have… Read More
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The blog details the importance of R&D tax credit claims and financing the R&D tax Offset entitlements. Swanson Reed, one of the leading tax advisory firm in Australia helps businesses with availing R&D tax loans and develop effective funding strategy.
2024-04-14 23:27
The matter concerns an individual charged by the Commonwealth DPP for attempting to unlawfully obtain a refund under the R&D Tax Incentive.
Before being charged, the taxpayer was compuls… Read More
2024-04-07 23:26
Industry Innovation and Science Australia (IISA) is the government department responsible for determining whether companies’ activities meet the legislative criteria eligible under the… Read More
2024-04-02 00:03
Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who have yet to do so should note that the Registrat… Read More
2024-03-25 00:36
AusIndustry have announced that they will be hosting a webinar on Wednesday, 27 March, where subject matter experts will answer questions related to R&D Claims for software development… Read More
2024-03-18 01:25
A new AAT case dated 16 February 2024 (GQHC and Commissioner of Taxation (Taxation) [2024] AATA 409), considered a situation where the ATO determined a company had not engaged in eligible R… Read More
2024-03-12 04:57
Australia’s R&D Tax Incentive program is designed to encourage innovation by providing tax refunds to eligible companies based on their R&D spending. However, companies face a… Read More
2024-03-07 00:33
Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do so should note that the Regis… Read More
2024-03-05 01:17
The content of this video has been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively publi… Read More
2024-03-05 01:07
The content of this video has been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively publi… Read More
2024-03-05 00:58
The content of this video has been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively publi… Read More
2024-03-05 00:43
The content of this video has been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively publi… Read More
2024-03-05 00:40
The content of this video has been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively publi… Read More
2024-03-05 00:30
The content of this video has been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively publi… Read More
2024-02-27 02:35
On 15 Feb 2024, Ed Husic’s department made a press release titled ‘Government investing billions in research and development’ to accompany the release of the 2023–24… Read More
2024-02-20 05:20
Altium Ltd has origins in Hobart in the 1980’s, and sells software to help people design printed circuit boards.
Following an IPO, the stock at one stage reached a low of $0.08, howeve… Read More
2024-02-18 23:45
The Queensland State Government’s Queensland Venture Capital Development Fund (QVCDF) has announced deals with five major venture capitals firms: Antler, Five V Capital, Main Sequence… Read More
2024-02-18 23:26
The content of this video has been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively publi… Read More
2024-02-12 04:36
An article was circulated over the past week authored by Sandy Plunkett on InnovationAus and quoting some credentialed individuals, calling for an overhaul of the R&D Tax Incentive and A… Read More
2024-02-05 00:02
In late January, InnovationAus ran a story providing commentary on a survey conducted by Australian Industry Group (Ai Group), showing only 19 percent of firms intend to raise their level of… Read More
2024-01-29 05:08
The Australian Taxation Office (ATO) has in recent months published information around publication of Research and Development (R&D) expenditure claimant information.
An additional updat… Read More
2024-01-22 23:25
Ausindustry have published a new video this month which has been promoted on the ATO and AusIndustry websites.
The video provides information on how to register R&D activities, and inclu… Read More
2024-01-15 02:43
A new AAT decision handed down in December 2023 (Active Sports Management Pty Ltd and Industry Innovation and Science Australia) has found that activities in respect of development of a… Read More
2024-01-09 00:05
The 2023‑24 Mid‑Year Economic and Fiscal Outlook (MYEFO) was released by the Government in December 2023.
New estimates within MYEFO show the R&D Tax Incentive (‘RDTI&r&hell…Read More
2023-12-18 05:25
On 15 December 2023, the ATO has released two new taxpayer alerts:
Taxpayer Alert TA 2023/4 Research and development activities delivered by associated entities. This relates to arrange… Read More
2023-12-12 23:22
Over recent months, a number of companies have reported to the ASX receipt of substantial Refundable R&D Tax Offsets.
Notable receipts include:
Syntara Limited (ASX: SNT) reported a $5.2… Read More
2023-12-05 01:00
Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstructio… Read More
2023-11-28 00:46
Various laws determine the manner in which a company’s assets are distributed to employees and creditors in the event of an insolvency event.
In a decision handed down by the New Sout… Read More
2023-11-20 23:09
Participants in the R&D Tax Incentive can expect a greater level of compliance activity soon.
The ATO has published an update this month titled ‘R&D Tax Incentive: Future Focus… Read More
2023-11-13 00:46
In November 2023, the ATO published information about the Top 500 program.
The Top 500 program is one of several programs administered as part of the Tax Avoidance Taskforce. The objective o… Read More
2023-11-06 05:26
On 27 Oct 2023 the ATO posted a new guidance document titled ‘Clarifying R&D program integrity rules’.
The document covers areas of R&D Compliance that the ATO are concer… Read More
2023-10-30 06:16
AusIndustry have announced that in early November they will be conducting a joint event with the ATO to provide introductory level information regarding the R&D Tax Incentive.
The … Read More
2023-10-23 06:12
In a significant shift in administration, the Australian Taxation Office (ATO) has this month published information around publication of Research and Development (R&D) expenditure… Read More
2023-10-18 02:22
The AFR has reported in late September 2023, that officials from the Australian Taxation Office visited a high profile ASX listed software development company last month as part of inquiries… Read More
2023-10-10 22:52
After previously issuing a draft ruling in June 2023, the ATO in September 2023 has now finalised and published Tax Determination TD 2023/5 on aggregated turnover and connected entitie… Read More
2023-10-02 23:08
Companies seeking to register R&D Activities conducted during the Year Ended 31 December 2022 (companies that have a December Year End for tax) who are yet to do so should note that the… Read More
2023-09-25 01:26
A recent AAT Decision dated 26 April 2023 (LAKES OIL NL and INNOVATION AND SCIENCE AUSTRALIA (Taxation) ) found a company’s registered activities were not eligible und… Read More
2023-09-17 23:06
Under the recently enacted small business technology investment boost, small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax dedu… Read More
2023-09-04 02:32
The QLD government has announced that round 11 of the Ignite Ideas funding is available to commercialise highly innovative and new products or services that are at minimum viable product sta… Read More
2023-08-31 03:09
Major Australian travel agency Flight Centre Ltd released its annual report this week. The report sees the company return to generating profit and paying dividends after a period of crisis d… Read More
2023-08-28 02:21
As reported in the Media and in Notices published in ASIC earlier in the month, BourkeHood Pty Ltd has entered administration with KordaMentha having been appointed.
This development m… Read More
2023-08-24 02:07
This week, the Business Council of Australia (BCA) released a report titled “Seizing the Moment“which proposes a plan to reverse the nation’s productivity slump and drive c… Read More
2023-08-22 00:36
The ATO has circulated a guidance update on August 17 2023 titled “Claiming the R&D tax incentive this tax time”. The ATO guidance update outlines key factors for claimants t… Read More
Government Proposes Enormous Increase In Maximum Fines For Firms Engaged In Tax Exploitation Schemes
2023-08-14 00:19
In response to the recent scandals in the tax profession, the Government has proposed to increase maximum fines on firms engaged in tax exploitation scheme by around 100 times.
The move woul… Read More
2023-08-07 07:06
Royal Wins Pty Ltd and Innovation and Science Australia [2020] was an AAT case where it was found that the company’s software development activities did not meet the requirem… Read More
2023-08-02 00:18
AusIndustry have announced that on Thursday the 24th of August, they will be conducting a joint event with the ATO to provide introductory level information regarding the R&D Tax Incenti… Read More
2023-07-25 02:44
Gladstone based ALPHA HPA (ASX: A4N) has commercialised the world’s first adoption of the solvent extraction (SX) purification technique to aluminium to produce a growing range of… Read More
2023-07-21 00:13
One of the major national newspapers has this week posted an article seeming to suggest that a raid by federal police and tax office agents on a start up in recent weeks may have been linked… Read More
2023-07-13 05:27
As noted on the Swanson Reed blog in November 2022, an AAT decision handed down in October 2022 (T.D.S BIZ PTY LTD and Commissioner of Taxation) considered the case of an R&D Entity atte… Read More
2023-07-06 01:57
In June 2023, Treasury Laws Amendment (2022 Measures No 4) Bill 2022 was passed to enact the digital games tax offset (DGTO).
The DGTO initiative was proposed by the former government as a r… Read More
2023-07-03 03:49
Companies are now able to register R&D Activities conducted during the year ended 30 June 2023 (FY23) with AusIndustry.
For the FY23 period, the application process is again administered… Read More
2023-06-29 00:58
On 28 June 2023 the ATO has published Draft Tax Determination TD 2023/D2 on aggregated turnover and connected entities – Commissioner’s discretion that an entity does not ‘… Read More
2023-06-18 23:15
Former Labor Government senator and industry minister Kim Carr authored an opinion article in the AFR on 18 June 2023 titled “Has Labor written off its promise to supercharge R&D?… Read More
2023-06-14 05:29
Melbourne-based Nufarm Ltd is a pioneer and leader in development of Agricultural technologies and offers a range of crop protection and seed technology solutions. The company’s annual… Read More
2023-06-08 01:27
Australia and its global peers have experienced a rapid rise in interests rates over the past 12 months to combat high and persistent inflation.
In recent months, Australia’s RBA Gover… Read More
Important R&D Tax Associate Entity Payment Rule Considerations Approaching End Of The Financial Year
2023-06-01 03:47
The R&D Tax Incentive includes a related party integrity provision whereby if a company incurs R&D expenditure to an associate, it must pay that amount in the same year to claim a no… Read More
2023-05-26 05:23
A company’s rate of R&D tax offset and whether it is refundable or not depends primarily on the R&D entity’s aggregated turnover:
If an entity’s aggregated turnover… Read More
2023-05-18 06:21
Companies seeking to claim expenditure for overseas activity incurred by an Australian company under the R&D Tax Incentive must apply separately to claim these costs by lodging an Overse… Read More
2023-05-09 23:42
The Labor Government previously handed down their first (mini) budget in October 2022 and has now handed down their first full budget in the traditional May timeslot.
Leading into thi… Read More
2023-05-08 02:22
A recent AAT Decision dated 26 April 2023 (LAKES OIL NL and INNOVATION AND SCIENCE AUSTRALIA (Taxation) ) has found a company’s registered activities were not eligible under the R&… Read More
2023-05-05 05:11
On Wednesday 3 May, the federal government released Australia’s first National Quantum Strategy.
Australian investment in quantum technologies is urgently needed, says Industry Ministe… Read More
2023-05-02 00:15
May 2023 will mark the Labor government’s second budget in this term, as the budget moves back to its traditional May timing.
Leading into the budget time, whether the R&D Tax Ince… Read More
2023-04-24 02:40
Perth based Hazer Group Limited is a pioneering ASX-listed technology development company undertaking the commercialisation of the HAZER® Process, a low-emission hydrogen and graphite pr… Read More
2023-04-18 00:18
Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2022 (companies that have a standard YE for tax) who are yet to do so should note that the standard&n&hell…Read More
2023-04-11 02:04
New Accelerating Commercialisation grants have been announced in March and April 2023, which are the first awarded since the new government came into power in May 2022.
Unlike the R&D Ta… Read More
2023-03-30 05:47
Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstruction &hell…Read More
2023-03-27 06:38
Various laws determine the manner in which a company’s assets are distributed to employees and creditors in the event of an insolvency event.
In a decision handed down by the New South… Read More
2023-03-16 05:51
Victorian based Neuren Pharmaceuticals’ North American partner, Acadia Pharmaceuticals, has received news this week that its treatment for Rett syndrome was approved by the US Food and… Read More
2023-03-12 23:48
In the October 2020 budget, the Government introduced augmented stimulus measures to encourage investment and allow eligible businesses to claim an immediate deduction for the cost of an as… Read More
2023-03-06 02:13
The freshly appointed Minister for Industry and Science, Ed Husic, recently held a press conference with Chief Scientist, Dr Cathy Foley, regarding the National Science and Research Prioriti… Read More
2023-03-01 00:06
Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2022 (companies that have a Standard YE for tax) who are yet to do so should note that the Regis… Read More
2023-02-16 04:52
CSL is one of Australia’s greatest business and technical success stories and its shares have provided one of the best returns on the ASX among listed companies over the past deca… Read More
2023-02-13 01:37
Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstruction Fund… Read More
2023-02-06 00:19
Under the amendments to the R&D Tax Incentive commencing for FY22, there was no change to the definition of eligible R&D activities and R&D expenditure. However there was a signi… Read More
2023-01-29 23:33
The Australian Taxation Office (ATO) and AusIndustry have advised that they will host a WEBINAR on 21 FEBRUARY 2023 for stakeholders seeking to learn more about the R&D Tax Incentive.
Th… Read More
2023-01-23 00:06
Industry Innovation and Science Australia (IISA) is the government department responsible for determining whether companies’ activities meet the legislative criteria eligible under the… Read More
2023-01-15 23:59
A number of Australian companies have reported substantial Refundable R&D Tax Offset receipts in recent months, including:
Starpharma received a refund of $7.1M for FY22 R&D activity… Read More
2023-01-11 00:40
In various R&D Tax Incentive updates attended by ATO personnel over the past year it had been indicated that refreshed R&D Tax Incentive guidance material would likely be published b… Read More
2022-12-14 07:26
A recent AAT decision published in November 2022 involved the case of a tax agent and firm (the Applicants), which ran a medium sized practice with approximately 450 client groups … Read More
2022-12-14 07:26
A recent AAT decision published in November 2022 involved the case of a Tax Agent Firm (The Applicant) which ran a medium sized practice with approximately 450 client groups contesting a dec… Read More
2022-12-07 23:08
CSL is one of Australia’s greatest business and technical success stories and its shares have provided one of the best returns on the ASX among listed companies over the past decade.
C… Read More
2022-11-28 07:07
Cybersecurity has been a major focus for Government, industry, and even everyday Australians given the recent high profile breaches.
Cyber Security Minister Clare O’Neil recently annou… Read More
2022-11-25 01:50
Last decade, there were a number of R&D Tax Disputes heard by the courts with the majority of decisions seeming to find in favour of the regulators that claims (most of which were large)… Read More
2022-11-16 06:45
The previous Coalition Federal Government had first announced that it planned to introduce a patent box tax incentive for eligible income associated with new patents in t… Read More
2022-11-09 04:08
A recent AAT decision handed down in November 2022 (Active Sports Management Pty Ltd and Industry Innovation and Science Australia) has allowed a company seeking review of an AusIndustry dec… Read More
2022-11-04 00:57
A new AAT decision handed down in October 2022 (T.D.S BIZ PTY LTD and Commissioner of Taxation) considered the case of an R&D Entity attempting to claim the cost of overseas moulds, fabr… Read More
2022-10-25 23:19
The new Labor Government has handed down their first budget in October 2022.
Leading into this budget, there was not anticipated to be any changes proposed to the R&D Tax Incentiv… Read More
2022-10-20 23:37
Australia’s medical technology industry has experienced significant growth over the past few years, with industry experts saying healthcare is a major area for digital disruption.
In 2… Read More
2022-10-11 08:28
2022-10-04 04:23
Airtasker had previously been associated with the “compliance crackdown” on R&D Tax Incentive Claims, particularly for software, after reports emerged in December 2018 that t… Read More
2022-09-25 23:54
ASX Listed, Sydney based company Immutep Ltd (ASX:IMM) has recently announced on 23 September 2022 that it has received a €1,804,341 (around A$2,693,000) payment in cash from the French… Read More
2022-09-21 01:07
A recent AAT Decision handed down in July 2022 (Absolute Vision Technologies Pty Limited and Innovation and Science Australia (Taxation)) has found a company’s software development act… Read More
2022-09-18 23:28
The Australian Taxation Office (ATO) and AusIndustry have advised that they will host a series of online sessions for stakeholders seeking to learn more about the R&D Tax Incentive.
The… Read More
2022-09-11 23:06
R&D Claims for the YE 30 June 2022 involve a number of changes from prior years, reflective of the legislative amendments arising in the October 2020 budget.
These amendments change the… Read More
2022-08-31 02:39
In an article published in the AFR on 30 April, Deputy vice-chancellor of research at the University of Sydney Emma Johnston called on the government to fund research and innovation directly… Read More
2022-08-28 23:30
A recent article by Dr John Howard on InnovationAus has highlighted a comparison between Public Funding for R&D in USA (following passage of a new act) against Australia.
The article hig… Read More
2022-08-21 23:29
StartupDaily has reported that over the past week, the new Minister for Industry and Science, Ed Husic, has held discussions with industry leaders covering themes including:
Science… Read More
2022-08-14 23:12
Melbourne-based Telix Pharmaceuticals has been one of the largest recipients of the R&D Tax incentive, and has now achieved a rare feat in Biotechnology; commercialising a product… Read More
2022-08-07 23:49
The Productivity Commission is the Australian Government’s independent research and advisory body on a range of economic, social and environmental issues affecting the welfare of Austr… Read More
2022-08-05 00:08
The Tax Practitioners Board (TPB) recently published
Exposure Draft TPB Information Sheet TPB(I) D48/2022 What is a tax agent service?
The document seeks to provide information regardin… Read More
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