Swanson Reed News

Monadelphous Successfully Challenges R&D Tax Dispute Following Conclusion of Internal Review

January 11th, 2021

One of the most high profile R&D Tax disputes has been that of engineering contractor Monadelphous. In August 2019 Monadelphous recognised a $7 Million provision relating to repayment of R&D Claims for the FY15 and FY16 periods. The provision indicated that the underlying disputed R&D Activities may have R&D Expenditure of around $70 to $80 Million, and followed a previous announcement in May 2019 that the company had received notices of amended assessments from the ATO relating to findings by […]

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Significant Refundable R&D Offsets Receipts Reported to ASX, ATO Reviews Still Occurring

December 14th, 2020

Over recent months, a number of companies have reported to the ASX receipt of substantial Refundable R&D Offsets. Notable receipts include: Zelira Therapeutics’ receipt of $1.4 M in December for cannabis medicines; Imugene’s receipt of $4.82M in December for Immuno-oncology research activities; Agrimin’s receipt of $1.6M in December for development of a potash project; Anteotech’s receipt of $1.2M in November for Surface chemistry activities; Bluechiip’s receipt of $1.5M in November for wireless tracking solutions; Intelicare Holdings’ receipt of $0.41M in […]

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Australia’s R&D Tax Incentive and Clinical Sector To Be Showcased During JP Morgan Week

December 7th, 2020

AusBiotech’s virtual showcase during JP Morgan week in January 2021 will seek to highlight the advantages of partnering with Australian life science companies and utilising the R&D Tax Incentive. Australia has become an attractive location for the conduct of clinical trials in recent years, based on local capability and infrastructure offering companies the ability to attain high-quality clinical data. Australia’s 43.5% Refundable R&D Tax Offset has further made the country an attractive destination for the conduct of clinical research. Ausbiotech’s […]

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Independent Review of TPB Makes Reference to R&D Tax Practitioners

November 30th, 2020

Regulation of the tax profession is the responsibility of the Tax Practitioners Board (TPB) which was formed following the Tax Agent Services Act 2009 (TASA)’s introduction. An independent review into the effectiveness of the TPB has been undertaken over recent years, and this week the final review report has been released, following earlier consultations and publications of a discussion paper. Within the final report, reference is made to Tax intermediaries: of which R&D Tax Advisors are specifically named. The review report […]

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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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