Legislation and Parliamentary Matters

Senate Economics Committee Review Into Proposed R&D Tax Incentive Changes

January 31st, 2019

The Senate Economics Legislation Committee conducted a public hearing in Melbourne on 30 January which heard submissions from various stakeholders including: Cochlear Ltd; Brickworks Ltd; CSL; Dulux Group; The AFR has reported that representatives from these groups have consistently argued that continual change to R&D Tax Incentive introduces uncertainty and reduces Australia’s relative attractiveness as an investment location. In fact, R&D spending in Australia has fallen by over $2 billion since 2013-14. The proposed intensity threshold for companies with annual turnover […]

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R&D Tax Incentive Crackdown For Software Claims

December 4th, 2018

Reports have emerged in the media recently of software development companies that have been subject to adverse R&D Tax Compliance proceedings: Airtasker hit by R&D incentive tax crackdown that threatens tech firms Whilst the benefits available under the R&D Tax Incentive are significant, these reports affirm the need to ensure R&D claims are completed with diligence, and in accordance with the current reporting expectations. Recent publications from ATO and AusIndustry on software development activities have highlighted current regulatory compliance focuses, […]

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R&D Tax Incentive Legislation Update

September 25th, 2018

Last week, the Government introduced changes to the R&D Tax Incentive as part of an Omnibus Bill, following an announcement of the changes in May’s Federal Budget. It is uncertain whether the Bill will pass both the lower house of parliament and the Senate. The revisions are proposed to apply for the 2019 Financial Year. View the first reading of the bill here.

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Swanson Reed – R&D Legislative Amendment Submission

July 25th, 2018

The Australian Government announced a reform of the R&D Tax Incentive program as part of the 2018-19 Federal Budget. Swanson Reed is of the view that stable and generous support for R&D must be maintained to give companies confidence to invest in long-term innovation strategies. We have provided feedback in response to the draft legislation of amendments to the Research and Development Tax Incentive.  To read our submission to the Treasury, please click the link below: Swanson Reed – R&D […]

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