The government has, over recent weeks, announced a wide variety of stimulus measures to assist businesses to cope with the Coronavirus situation. The stimulus offered is from multiple levels of government and for multiple purposes.
Within its recently released half yearly report, Real Energy Corporation Limited (ASX: RLE) has provided an update on the status of the company’s dispute with AusIndustry/ISA over eligibility of its R&D Activities; The company had previously received an adverse finding for the company’s R&D Tax Registrations during the FY14, FY15 and FY16 periods, with corresponding tax offsets in dispute totalling around $7.2M. Further potential unpaid R&D Tax offsets of around $6.5M are at stake for the FY17 to FY19 periods […]
Fintech Australia has used a speech at the Senate Select Committee of Financial Technology and Regulatory Technology to call for better clarity that software activities be included within the scope of eligibility for R&D Tax Incentives. The Article reports a senior figure from ISA responding to the question “Would Atlassian be considered eligible for R&D tax incentives?” with a reply of “No, because it’s software”. We note however that this comment may be incorrect or out of context since: It […]
In May 2019, Northern Minerals (ASX: NTU) announced that the company had received notice of a finding that AusIndustry had deemed that the activities registered in the FY17 and FY18 periods related to activities that were “ineligible R&D activities”, which would not be eligible for the R&D tax offset in those income years. In June 2019, Northern Minerals subsequently announced that the company would exercise its review rights in relation to AusIndustry’s decision that the Company’s FY17 and FY18 R&D […]