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ATO Guidance and Materials
Adjustments Required to R&D Claims for JobKeeper Payments – ATO Position Released
July 28th, 2020As had been anticipated, the ATO will be requiring adjustments to R&D claims that contain salaries reimbursed by the JobKeeper Scheme. Companies lodging FY20 R&D claims who have also received the JobKeeper stimulus must carefully review and adjust R&D claims where necessary. The basis of this need for adjustment is the ATO’s position that companies are not deemed to incur salary expenditure at their own financial risk where such costs are being reimbursed by the Job Keeper Scheme. Draft Taxation […]
Argent Minerals Settles R&D Tax Dispute Allowing Some Of Previously Disputed Claim To Be Deemed Eligible
May 26th, 2020Argent Minerals Limited has previously disclosed a liability in the company’s 2019 annual report for “R&D Claims repayable” of approximately $1.4M. This liability was in respect of R&D Tax Offsets for the FY16 and FY17 periods that AusIndustry had found relate to ineligible activities. Argent Minerals Limited had also reported that the company remained of the view that its R&D activities were eligible, and intended to pursue dispute of the adverse finding. The company has announced to the ASX over the past week […]
Strike Energy Ltd Provides Update On R&D Tax Dispute Currently In AAT
February 17th, 2020Strike Energy Ltd previously reported to the ASX that R&D activities the company had registered had been found by AusIndustry to not be eligible under the legislative criteria. The matter is currently before the Administrative Appeals Tribunal (AAT) and within Strike Energy’s half year report published to the ASX, the company provided the following update: Innovation and Science Australia (ISA) carried out an internal review of Strike’s FY16 registration and FY18 R&D preregistration under the Industry Research and Development Act […]
Reintroduction of legislation to reform R&D Tax Incentive
December 5th, 2019The federal government has today reintroduced legislation to reform the R&D Tax Incentive (Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019) which is detailed here. The previous bill attempting to reform the R&D Tax Incentive did not pass through the Senate, and a Senate Economics Legislation Committee recommended that the bill should be deferred from consideration until further analysis of the bill’s impact is undertaken, particularly with respect to concerns around the proposed intensity threshold and refundable offset […]
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News & Research
News & Research
News & ResearchThe Most Innovative Cities in the United Kingdom
The common way in which innovation is tracked, is to look at the number of patent requests originating in any one city or region. By registering a patent, you are essentially registering an idea that was unique to you and […]
Reports That Senate R&D Tax Reform Inquiry Has Been Delayed Again
In December 2019, the government re-introduced a bill to reform the R&D Tax Incentive. This bill was a slightly modified version of a previous reform bill (Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia […]
