AusIndustry have announced that they will be hosting a webinar on Wednesday, 27 March, where subject matter experts will answer questions related to R&D Claims for software development, including: eligibility requirements; activity descriptions; and record keeping. Registration information is available on the AusIndustry website. Please get in touch with our office if you require assistance, would like to speak to someone about a potential claim, or check out our website for more information.
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 […]
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 about whether the group inappropriately claimed R&D Tax Offsets. The article seems to suggest that the issue may relate to overclaiming of expenditure on R&D Activities conducted overseas (as opposed to whether the expenditure or activity meet the general R&D Tax Incentive criteria). Under the R&D Tax Incentive, companies […]
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 under the R&D Tax Incentive. The project under scrutiny in the case was entitled “Project 1 – LAK2006 ‘Hydraulic Fracturing Technology for Gippsland Tight Gas’”. The dispute was focused on a registration in the FY14 and FY15 period. During the case INNOVATION AND SCIENCE AUSTRALIA contended that: the activities undertaken were not experimental activities; almost all […]