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Legislation and Parliamentary Matters

Swanson Reed presenting R&D Tax update at MSIA Event – July 2024

July 15th, 2024

Swanson reed is providing an update on the R&D Tax Incentive at an event on Thursday, July 25th, 2024 in Brisbane presented by MSIA (Medical Software Industry Association). The 2024 MSIA Brisbane event is being held in conjunction with the Australian Digital Health Agency (ADHA) to provide a full day of updates and insights in Digital Health. Swanson Reed’s update will provide an update on R&D Tax including insight into current policy discussions leading into the upcoming review of Australia’s […]

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High Court Denies Special Leave to the Commonwealth on Behalf of Employees

November 28th, 2023

Various laws determine the manner in which a company’s assets are distributed to employees and creditors in the event of an insolvency event. In a decision handed down by the New South Wales Supreme Court in 2022,  the order of priority of payments in a winding up where employee debts and secured creditor claims exist was considered. The matter was Spitfire Corporation Limited (in liquidation) and Aspirio Pty Ltd (in liquidation) [2022] NSWSC 340. The court considered whether Refundable R&D […]

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LAKES OIL NL Provides Update on R&D Tax Activities Found Ineligible

September 25th, 2023

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 […]

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Government Proposes Enormous Increase in Maximum Fines for Firms Engaged in Tax Exploitation Schemes

August 14th, 2023

In response to the recent scandals in the tax profession, the Government has proposed to increase maximum fines on firms engaged in tax exploitation scheme by around 100 times. The move would see firms face fines of up to $780m for exploiting tax loopholes, and other changes made to regulators’ powers. The promoter penalty laws are concerned with arrangements that avoid or evade tax, and where the benefit claimed isn’t available under the tax laws. They are collectively referred to […]

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