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December, 2015
Lessons from Berlin: What the Innovation Statement is Missing
December 14th, 2015With street’s littered with graffiti to warehouses, beer gardens and an abundant supply of bratwurst and beer. There is no doubt about it; Berlin is the essence of being unintentionally hip. While Silicon Valley may be the start-up mecca of the world, Berlin has experienced rapid investment dollar increases resulting in a vibrant start-up scene and a burgeoning tech hub. Prompting the question, what could Australia learn from Germany? Berlin has become the epicentre of Germany’s start-up scene due to […]
A Patent Box Grant: The Bang the ‘Idea’s Boom’ Needs
December 11th, 2015The ‘ideas boom’, the blueprint to innovation, or just simply, the Innovation Statement – whichever way you prefer to coin Turnbull’s first economic report as government, there is no denying that ‘innovation’ has become a buzzword in the Australian vocabulary this week. The innovation statement, released on Monday, unveiled a $1.1 billion plan to foster innovation with 24 new measures across 11 different Government groups. Certainly, the plan is wide-ranging; however, it falls short on delivering a globally competitive commercialisation […]
Is R&D, the Elixir of Economic Growth, Threatened by ISA?
December 10th, 2015The ‘elixir of economic growth’, whilst sounding like a surreptitious tincture crafted by an alchemist, is actually often believed by economists to be pertaining to research and development (R&D). Hence, as we mentioned in our previous post, it came as a surprise to many that the R&D Tax Incentive was not mentioned in the Innovation Statement released on Monday. However, what was declared was the inception of a new independent body, Innovation Science Australia (ISA), which will take effect in July […]
Will ISA Impact the R&D Tax Incentive?
December 9th, 2015In the interest of echoing the mining boom with a more perpetual “ideas boom”, the government released its flagship Innovation Statement on Monday this week. The Innovation Statement revolves around four chief areas: culture and capital, collaboration and skills, incentivising risk and government as an exemplar. In particular, key elements of the agenda comprise of a 20 per cent rebate for investments in start-ups and a easing of insolvency laws to spur risk-taking by company directors. However, contrary to the expectations of many […]
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Daniel McGregor2022-08-11I have been using Swanson Reed for my clients for more than a decade. Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients. Highly recommended.
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Gary Watson2022-05-31We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.
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News & Research
News & Research
News & ResearchThe matter concerns an individual charged by the Commonwealth DPP for attempting to unlawfully obtain a refund under the R&D Tax Incentive. Before being charged, the taxpayer was compulsorily examined by the ATO. The individual had applied to stay the […]
2023 Annual Report for IISA: Update on R&D Tax Legal matters and litigation
Industry Innovation and Science Australia (IISA) is the government department responsible for determining whether companies’ activities meet the legislative criteria eligible under the R&D Tax Incentive. The 2022-23 Annual Report for IISA was recently released, and a section of the […]
