Swanson Reed News

UK R&D Tax Incentive Changes to Restrict Costs for Activity Not Physically Conducted in UK

August 2nd, 2022

The UK Government has just published draft legislation that includes signification changes to R&D tax incentives, proposed to take effect from 1 April 2023 (noting typical UK tax periods run 1 April to 31 March). Perhaps one of the biggest proposed changes is the restriction of expenditure for overseas activity: In some cases, before the current changes, the cost of overseas activity could be claimed under the UK system. Changes propose to focus UK R&D tax incentives on UK R&D […]

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Federal Government Funding in Australian Renewable Energy Sector

July 26th, 2022

Australia is currently faced with a growing energy crisis and investment in clean energy technology and renewable generation infrastructure has been a large focus of federal governments. In 2020, the previous Government committed to invest at least $20 billion in low emissions technologies by 2030, to drive more than $80 billion of total public and private investment over the decade. The Technology Investment Roadmap, with annual Low Emissions Technology Statements (LETS), provides a comprehensive investment strategy to guide government investment […]

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Limit to Extensions of Time for R&D Applications (92 Days after Statutory Deadline)

July 20th, 2022

Companies should always seek to lodge R&D applications on time to avoid the need to pursue extensions.   Significant changes have been introduced over recent years limiting the time period available to companies applying for extensions of time to submit R&D applications.   A limit on extensions of time to submit an R&D application after a statutory deadline came into effect on 1 January 2021. From 1 April 2022,  this cap was amended from 3 months to 92 days. This […]

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Slight Changes to Login to AusIndustry R&D Tax Portal

July 15th, 2022

AusIndustry have announced that the R&D Tax Incentive Portal has transitioned to the Australian Government Digital Identity System to verify users. This has presented a change to the login process when accessing the R&D Tax Incentive Portal. From late June 2022, when logging into the R&D Tax Portal, the login button will display ‘Continue with Digital Identity’, replacing the current ‘Login with myGovID’ button. When you select ‘Continue with Digital Identity’ you’ll be given the option to select myGovID as your Digital Identity and asked […]

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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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