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AAT decision on tax agent’s termination by TPB for failure to receive R&D advice before lodging ITRs

December 14th, 2022

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 contesting a decision by the Tax Practitioners Board (TPB) who had decided to terminate the tax agent registrations and to disqualify them from applying for tax registration for a period of two years. The case is published in the public domain, but we have not named the firm here. Investigations initially undertaken by the […]

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Updated AAT Decision (Moreton Resources Ltd V IISA) Finds Some Disputed Activities Were R&D Activities

November 25th, 2022

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) were not eligible. The original Federal Court decision in 2019 regarding Moreton Resources Ltd and Industry Innovation and Science Australia was big news at the time, since it represented one of the few matters where a decision was ruled even partially in favour of a taxpayer. […]

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Australian Patent Box Tax Incentive Appears Not to be Proceeding

November 16th, 2022

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 the medical and biotechnology sectors in the May 2021 federal budget.   The legislation to enact this was introduced to the lower house in February 2022 (with a proposed start date of July 2022), but was not passed as law before the federal election.   There is now a new Labor Government following the federal election and in […]

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New Government’s Federal Budget October 2022 – No R&D Tax Changes (Thankfully!)

October 26th, 2022

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 Incentive, since the previously announced changes for FY22 had only recently been legislated by the previous Coalition government, and were passed with support from the (then) Labor Opposition.   Based on a preliminary review of the October 2022 budget material, no material changes seem to have been proposed to […]

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