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Real Energy Corporation Limited provides update on status of R&D Dispute

October 8th, 2019

Within its recently released annual report, Real Energy Corporation Limited (ASX: RLE) has provided an update on the status of the company’s dispute with AusIndustry/ISA over the eligibility of its R&D activities. The company had previously received an adverse finding for the company’s R&D Tax Registrations during the FY14, FY15 and FY16 periods, with corresponding tax offsets in dispute totaling around $7.2M. RLE had appealed the adverse findings to the Administrative Appeals Tribunal (AAT) as was previously reported to the market […]

Base metal explorer takes up provision for repayment of disputed R&D Tax Offset

September 27th, 2019

Argent Minerals Limited has disclosed a liability in the company’s 2019 annual report for “R&D Claims repayable” of approximately $1.4M. This liability is in respect of R&D Tax Offsets for the FY16 and FY17 periods that AusIndustry have found relate to ineligible activities. The report notes that: the finding was received in January 2019, and that an independent review is being conducted of the finding. Independent reviews are available to companies under the current compliance continuum where activities are found […]

Editorial in The Australian emphasises importance of R&D Tax Incentives

September 25th, 2019

An editorial published in today’s Australian Newspaper has highlighted that the taxation system is one of the most effective means of encouraging business to invest in R&D, and that Incentives could be used to enhance declining levels of business investment in R&D (“BERD”). The editorial emphasises Australia’s declining levels of BERD which have been widely reported in the media recently: Australia’s BERD dropped from 1.88 per cent of GDP in FY16 to 1.79 per cent in FY18; Australia’s BERD has […]

Reports Industry Minister Is Considering Changes To The Administration Of The R&D Tax Incentive

September 3rd, 2019

InnovationAus.com has reported that Industry Minister Karen Andrews is investigating potential changes to the administration of the R&D Tax Incentive to give companies greater certainty about their claims. The report of potential changes has come following recent comments by Small Business Ombudsman Kate Carnell and Tax Commissioner Chris Jordan on the administration and compliance aspects of the programme. Within the article, Mrs Andrews ruled out issuing any new guidance that would change the established definitions about what constitute R&D under the […]

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