Swanson Reed News

AusIndustry Produced Video: How to Register Your R&D Activities for the R&D Tax Incentive

January 23rd, 2024

Ausindustry have published a new video this month which has been promoted on the ATO and AusIndustry websites. The video provides information on how to register R&D activities, and includes a step-by-step through the registration process. It’s designed to make using the portal easier, faster and more efficient. The video uses software-specific examples. AusIndustry has recommend viewing this video well before registration deadlines (which is approaching for FY23 June Year End companies), especially if registering for the first time. Please […]

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New AAT Case Finds Development of Shoe to Suit Professional Basketball Player NOT Eligible Under the R&D Tax Incentive

January 15th, 2024

A new AAT decision handed down in December 2023 (Active Sports Management Pty Ltd and Industry Innovation and Science Australia) has found that activities in respect of development of a customised basketball shoe were not eligible under the R&D Tax Incentive. Background points from the case include: Active Sports Management Pty Ltd, the applicant, carries out a business which includes importing and selling sports apparel, footwear, accessories, hoodies, and tracksuits, among other things. It also designs and develops products for the […]

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December 2023 MYEFO indicates cost of R&D Tax Incentive is growing

January 9th, 2024

The 2023‑24 Mid‑Year Economic and Fiscal Outlook (MYEFO) was released by the Government in December 2023. New estimates within MYEFO show the R&D Tax Incentive (‘RDTI’) is expected to cost an extra $2.1 billion over the next four years, including an additional $432 million in FY22-23. According to the report, the increase is being driven primarily by claims arising from biomedicine, artificial intelligence, and machine learning activities. It’s part of a growing trend: software claims accounted for 30% of RDTI […]

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New ATO Alerts on R&D Tax: 1: Activities Delivered by Associated Entities AND 2: Activities Conducted Overseas for Foreign Related Entities

December 18th, 2023

On 15 December 2023, the ATO has released two new taxpayer alerts: Taxpayer Alert TA 2023/4 Research and development activities delivered by associated entities. This relates to arrangements identified by the ATO where an entity incorrectly claims the R&D tax offset for expenditure incurred under an agreement with an associated entity who conducts those activities. Taxpayer Alert TA 2023/5 Research and development activities conducted overseas for foreign related entities outlines ATO concerns about arrangements where Australian entities claim the R&D tax offset for […]

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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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