A report in the Australian Financial Review has highlighted the remarkable performance of CSL over recent years, largely due to the company’s investment in R&D Activity. The report has highlighted: CSL’s share price has increased more than 50% during 2019, which is rare for a company of such size and maturity; If CSL maintains their current trajectory, it may shortly overtake Commonwealth Bank of Australia as the 2nd most valuable stock on the ASX by market capitalisation; CSL is now […]
In December 2019, Fintech Australia released its response to the Financial Technology and Regulatory Technology Senate inquiry. Their committee voiced concerns regarding the Government’s plan to cut $1.35B from the R&D Tax Incentive and stated that the current definition of “experiments” was impeding innovation by preventing software companies from claiming the tax offset. The submission pointed out that the R&D Tax Incentive is the primary channel used to promote local innovation, with 64% of fintechs having applied for the scheme. […]
XPED Limited had previously announced to the ASX in July 2019 that the company had received notice from AusIndustry of a finding assessing registered activities as ineligible under the requirements of the R&D Tax Incentive for the 2017/18 period, totalling approximately $1.6M. The activities in dispute were in respect of development of Internet of Things based software and hardware solutions. The July ASX Announcement included a statement that XPED Limited was committed to appealing the finding. XPED Limited have since […]
AusIndustry have circulated a link to an update on their website in respect of a revised integrity management approach, which is detailed here. This update has come following the release of an Australian Small Business and Family Enterprise Ombudsman (ASBFEO) report on the administration of the R&D Tax Incentive, which was critical of some aspects of the processes for compliance reviews. Key highlights from AusIndustry’s update include the following: A stated commitment to two way engagement and transparent decision making; A […]