Investment in research and development by the Australian government has dropped to its lowest level in 30 years according to an analysis of government figures. Accounting for only approximately 2 per cent of government investment, R&D spending has fallen to its lowest GDP share in 25 years. Australia has seen significant growth in research and development expenditure over the years, however despite this increased spending there remains a large gap comparative to expenditure in other international economies. According to the […]
Is everyone an innovator or is nobody one? Every day we dream up new systems and processes on how to make our lives more efficient. But we are rarely pretentious enough to call ourselves innovative. Even Einstein said “imagination is more important than knowledge.” So does that mean I should win a Nobel Prize for the new back street I discovered while walking to the office this morning? Probably not… 1. Stop comparing yourself to other innovators When you think of […]
Swanson Reed understands security, tax risk management and audit control are critical to the success of your company’s research and development. At Swanson Reed pride ourselves in providing quality service with minimal risk to ensure your business receives the highest levels of quality assurance. Swanson Reed is certified to the International Organization for Standardization (ISO) 31000:2009 Risk Management Standard. As a result of this certification, you can be assured every claim prepared by Swanson Reed and our advisory services have undergone […]
This calculator helps you calculate your research and development (R&D) tax offset claim. The research and development (R&D) tax incentive provides a targeted tax offset to encourage certain companies (R&D entities) to conduct R&D activities that benefit Australia. It provides generous benefits for companies performing eligible R&D activities and has the following two core components: a 43.5% refundable tax offset for eligible entities with an aggregated turnover of less than $20 million – unless they are controlled by tax exempt […]