Home » News

Swanson Reed News

R&D Tax Incentive expenditure exceeded the Industry Department’s projections

November 4th, 2024

Reporting by InnovationAus has detailed how the value of Australia’s Research and Development Tax Incentive (“RDTI”) has significantly exceeded the Industry Department’s projections by nearly $860 million for the last financial year. Recent Government data reveals that the RDTI accounted for 30.9% ($4.23 billion) of all Commonwealth R&D investment in 2023-24, an increase from the expected 27% ($3.37 billion). The revised RDTI expenditure significantly influenced the total estimated R&D expenditure for the 2023-24 financial year, which increased from $12.6 billion to $13.8 billion. The final […]

Read More

Changes to AAT

October 28th, 2024

The Administrative Appeals Tribunal (AAT) was originally established in 1976 and provides independent merits review of a wide range of administrative decisions made under the laws of the Commonwealth of Australia. The AAT has traditionally been the first course of action for companies seeking to raise tax disputes, offering a relatively lower-cost method compared to higher Courts. Since the introduction of the R&D Tax Incentive for FY12 claims, several R&D matters have been heard by AAT, including: Moreton Resources Ltd […]

Read More

Swanson Reed observations on media and industry reaction to ATO’s required publishing of R&D data under transparency laws

October 21st, 2024

Following the support of both major political parties, the legislation to enact the publication of Research and Development (R&D) expenditure claimant information was passed in 2021. Reforms to the policy and administration of the R&D Tax Incentive (R&DTI) program were within Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020. The first year of claim data to be released under the new transparency measure was FY22 (income years commenced on or after 1 July 2021) and this information was published […]

Read More

Cochlear Comments on Australian R&D Tax and Innovation Policy

October 14th, 2024

A recent article in The Australian has outlined comments from Dig Howitt, CEO of Cochlear, who believes Australia is at a crossroads when it comes to commercialising new innovative products. Howitt noted the country’s current tax regime hinders research and development (R&D), showcasing that Australia needs to enhance its R&D tax incentives to remain globally competitive. Howitt identifies that Australia’s productivity growth has declined steadily over the past decade. With economic growth on a per-capita basis also declining for the past […]

Read More

Are You Eligible?


Click here for the R&D Eligibility Wizard

R&D Audit Checklist


Click here for the R&D Eligibility Wizard
Alex Chisholm
Principal, Melbourne
Tom Parkhouse
Principal, Sydney
Andy Nguyen
Principal, Brisbane
Holly Parkinson
Manager, Adelaide
David Greatwich
Principal, Perth
Krishna Gungaram
Manager, Hobart

Categories

Archives