Home » News » For Accountants

For Accountants

Industry Examples of Refundable R&D Tax Offset Eligibility Cliff for Companies Breaching $20M Turnover Threshold

March 12th, 2024

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 refund cliff if their revenue exceeds the legislated turnover threshold. 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 is less than $20 million and it is not controlled by any exempt entities, then the company […]

Read More

Industry Ministers Comments on R&D Tax Incentive within Recent Government Release in February 2024

February 27th, 2024

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 science, research and innovation (SRI) budget tables. The government notes in the release that: Investing in Research and Development (R&D) is fundamental to delivering the Government’s priorities to: rebuild Australia’s manufacturing capability, support home grown innovation, and secure Australia’s long-term productivity, resilience and prosperity;  SRI Budget Tables show the Government will invest an estimated $12.6 billion […]

Read More

Altium Affirmed as One of Australia’s Greatest Ever Technology Companies on $9b Takeover

February 20th, 2024

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, however, in testament to the company’s success, the company has entered a scheme of implementation agreement in February 2024 for Japan’s Renesas Electronics to acquire the company at $68.50 a share (equating to an enterprise value of around $9bn). Throughout a surge in the shareprice of tech stocks […]

Read More

Changes to R&D Clawback Mechanisms for FY22 based on ATO Guidance

February 19th, 2024

Please view Changes to R&D Clawback Mechanisms for FY22 based on ATO Guidance Released November 2022 via the video posted above. 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 published by the programme regulators on their respective websites: ATO AusIndustry

Read More

Categories

Archives