Swanson Reed News

R&D Tax Incentive Reform Still On Government Agenda, Despite Focus On Enhancing Local Manufacturing

May 22nd, 2020

Industry Minister Karen Andrews addressed the National Press Club during the week to outline Government plans for industry policy in the wake of the COVID-19 situation. Points from the speech include the following: Ms Andrews said the Coronavirus pandemic had exposed gaps in Australia’s manufacturing capacity, and there would be “significant changes” once the crisis abated; The government would look to build on its “comparative strengths” in mining and agriculture and find ways to “value-add” on raw materials previously marked […]

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Breville Group Reports Increased R&D Investment Delivering Results

May 18th, 2020

Breville Group has been one of the outstanding performers on the ASX over the past year, with the value of its shares having approximately doubled in the past 12 months; Breville Group has a design and R&D headquarters in Sydney, with manufacturing, distribution, and sales facilities around the world. In a cautiously optimistic trading update announced this week, Breville Group has reported that: Total annual R&D Investment has increased 97% between FY15 and FY19; The R&D Team headcount has increased from […]

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Opposition Critical of Government Innovation Policy as Australia Emerges from COVID-19

May 11th, 2020

An article in The Australian by long time Labor Industry Spokesman Kim Carr this week has been critical of the Australian Government’s R&D Tax Policy, and has linked this to decline in Australian manufacturing and supply chain weakness. Highlights form Carr’s article include the following: The government reintroduced the R&D Tax reform bill in December 2019, despite: A senate economics inquiry concluding that a previous iteration of the bill should be withdrawn due to concerns over complexity, particularly the controversial […]

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Startups Using Accrued R&D Tax Offsets to Access Finance Ahead of Lodgement

May 5th, 2020

An Article in the Sydney Morning Herald during the week has highlighted the increasing trend of companies seeking finance based on anticipated R&D Tax Entitlements. This allows companies to access funding now, based on a portion of what their anticipated R&D Refund is expected to be, once claims can be lodged after 30 June. Providers of such finance usually require: interim financial statements and R&D Calculations to be reviewed in detail; an assessment of the companies R&D Activities to be undertaken […]

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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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