Swanson Reed News

Australian Government Announces details regarding Review of National R&D System

December 4th, 2024

In the May 2024 federal budget, The Albanese Government announced a strategic examination and review of Australia’s R&D system to align it with national priorities and improve outcomes. This week, Ed Husic has announced specific details to launch the review, the first such comprehensive review in nearly 20 years. The review will assess how to maximise the value of R&D investments, strengthen industry linkages, and support national priorities. The review will examine existing systems, such as the Research and Development Tax Incentive […]

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New Federal Court Decision re: Active Sports Management Pty Ltd finds R&D Activities not eligible

December 2nd, 2024

An AAT decision handed down in December 2023 (Active Sports Management Pty Ltd and Industry Innovation and Science Australia) previously found that activities in respect of development of a customised basketball shoe were not eligible under the R&D Tax Incentive. It was found in the AAT case that, “none of the Claimed Activities were core R&D activities within the meaning of subsection 355-25(1) of the ITAA 1997..” ACTIVE SPORTS MANAGEMENT PTY LTD applied to the federal court to appeal the decision and the Federal […]

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Changes to Extension of Time request processes for R&D Applications

November 25th, 2024

AusIndustry have announced and released an updated version of the Extension of Time (EOT) form through the R&D Tax Incentive (R&DTI) customer portal. Companies are required to use the portal when applying for any extension of time to submit an R&D application if it is not able to be submitted by the original deadline (with the deadline being approximately 10 months after the end of the financial year). The updated form provides clarity around the 2 types of extensions you […]

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Update on the R&D Review (announced in the May 2024 Budget)

November 18th, 2024

In the May 2024 federal budget, The Albanese Government announced a strategic examination and review of Australia’s R&D system to align it with national priorities and improve outcomes. InnovationAus has recently provided an updated on the status of the review and noted that terms of reference for the review are awaiting approval from The Albanese government and that the review will not be completed for at least another year. Australia’s R&D investment has been declining for over a decade, now […]

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Alex Chisholm
Principal, Melbourne
Tom Parkhouse
Principal, Sydney
Andy Nguyen
Principal, Brisbane
Holly Parkinson
Manager, Adelaide
David Greatwich
Principal, Perth
Krishna Gungaram
Manager, Hobart

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