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ATO Guidance and Materials
R&D Tax Incentive Changes Announced in 2018-19 Budget
May 9th, 2018In response to the recommendations in the ‘2016 Review of the R&D Tax incentive’ the government has announced proposed R&D Tax Incentive changes within the 2018-19 Federal Budget released yesterday, 8 May 2018. The changes take on board some recommendations from ISA’s previous review of the programme, along with some of the government’s own savings and integrity measures. The R&D Tax Offset rate will change, commencing for years on or after 1 July 2018. For companies claiming the refundable offset with […]
R&D tax update – Issues relevant to building & construction claims
March 17th, 2017The following R&D tax update seeks to provide information on recent developments affecting the operation of the incentive, and compliance issues relevant to the building and construction industry. Recent R&D Tax Offset and Income Tax Rate Changes The Budget Savings (Omnibus) Bill 2016 passed both houses of parliament in September 2016. Included within the Bill’s range of budget savings measures was a uniform 1.5% reduction in R&D tax offset rates, which will apply to R&D claims for income years starting on […]
Taxpayer alert released by ATO for Software R&D Activities
March 1st, 2017The Department of Industry, Innovation and Science and the Australian Taxation Office (ATO) have recently released joint taxpayer alerts on a range of R&D Tax issues. The alerts have highlighted issues identified by the ATO and AusIndustry, such as: Activities registered being ordinary business activities that are not eligible for the R&D Tax Incentive; Expenses included in the calculation of claims that are not for amounts that relate to eligible R&D activities; Expenses included in the calculation of claims that relate to […]
R&D Tax Incentive for ordinary business activities under ATO review
February 24th, 2017Business operators and advisors are being warned that the Australian Tax Office (ATO) are reviewing tax incentive claims made for ordinary business activities. The following review is intended to target the misuse of R&D claims, and anyone deliberately exploiting the tax breaks will be pursued in court. Misuse of R&D tax incentives consist of: A company registers one or more activities for the R&D Tax Incentive. Some or all of the activities registered are broadly described and non-specific. […]
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News & Research
News & Research
News & ResearchLabor Statements on Innovation Policy
Opposition Innovation, Industry and Science Spokesman Senator Kim Carr has been quoted in the AFR today with respect to Labor’s innovation policy during the federal election campaign. Carr Indicated that if Labor were to win the election, he would work […]
Global Veterinary Surgical Instrument Projected Growth due to R&D Incentives
A study involving some of the biggest veterinary surgical instruments manufacturers predicts a growth of approximately 6.5% during the forecast period 2018- 2023. The growth is as a result of the rise in R&D expenditure, product innovation and demands […]
