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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

– Advertisement –   Sympathy to the family of Toni Smith Billingsley of Rising Sun. Toni was a 1948 graduate of Patriot High School. She was a classmate of Betty Clifto… Read More

In line with recent changes to the UK’s Research and Development tax incentives to be effective from 1 April 2023, the company has released guidance about the supplemental information… Read More

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 … Read More

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

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

There was a big nationwide rally final weekend to protest continued funding by america for the struggle in Ukraine. This occasion was probably the most politically numerous rallies in lat… Read More

(San Francisco) Netflix now has 230.75 million paid subscribers, significantly exceeding its forecast and market expectations for the last quarter, and turning the page on a very difficul… Read More

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

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

The Family GameBy Catherine Steadman Ballentine Books, 2022. 319 Pages. Fiction Harriet Reed, a novelist on the brink of literary stardom, is newly engaged to Edward Holbeck, the h… Read More