Swanson Reed News

Telix Pharmaceuticals reports receipt of $11.4M Refundable R&D Tax Offset

July 27th, 2020

Melbourne-based Telix Pharmaceuticals Ltd has reported during the week receipt of an $11.4M Refundable R&D Tax Offset in respect of activity conducted during the YE 31 December 2019. This would be one of the largest single-year Refundable offset receipts in the history of the R&D Tax Incentive and infers an R&D Expenditure of approximately $26M AUD. The underlying activity relates to the development of diagnostic and therapeutic products using molecularly targeted radiation. Receipt of a tax offset of this magnitude […]

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Australian National Audit Office To Audit The R&D Tax Incentive

July 23rd, 2020

The Australian National Audit Office (ANAO) is set to undertake an audit of the government’s administration of the R&D Tax Incentive scheme this year. This will be the first time the ANAO has looked at the scheme since it was introduced in July 2011. The audit will aim to assess the effectiveness of the R&D Tax Incentive’s administration by the Department of Industry, Science, Energy and Resources and the ATO.  Small Business Ombudsman Kate Carnell was quoted in InnovationAus, stating […]

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Shipbuilder AUSTAL Ltd reports increased earnings guidance stemming from R&D investment

July 20th, 2020

Whilst experiencing a setback in May following the announcement of a contract being awarded to a competitor, AUSTAL LIMITED has recently been one of the outstanding performers on the ASX, with the value of its shares having increased approximately 25% over the past quarter. AUSTAL LIMITED has R&D, manufacturing and service headquarters in Australia (Perth and Cairns), alongside global R&D and manufacturing facilities based in Alabama, Vietnam and the Philippines. Within recent ASX and trading updates leading up to financial year end, […]

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Camalic Pty Ltd and Innovation and Science Australia (Taxation) [2020] AATA 1590 (3 June 2020)

July 13th, 2020

Introduction: A recent case heard in the AAT has affirmed a previous decision by Innovation and Science Australia (AusIndustry), finding that activities registered under the R&D Tax Incentive were not in accordance with the legislative requirements. Background: Camalic Pty Ltd V ISA was a dispute in respect of a registration in the FY14 and FY15 periods for development of a software predictive tool that utilises a significantly large number of multiple variables to predict an increase in value based upon […]

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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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