A number of Australian companies have reported substantial Refundable R&D Tax Offset receipts in recent months, including: Starpharma received a refund of $7.1M for FY22 R&D activity to progress three clinical-stage assets; ClearVue Technologies received a refund of $0.81M for FY22 R&D activity to progress its clean energy technologies; Estrella resources a refund of $1.01M for FY22 R&D activity related to its Carr Boyd Nickel project; Emyria received a refund of $2.1M for FY22 R&D Activity to support the registration […]
In various R&D Tax Incentive updates attended by ATO personnel over the past year it had been indicated that refreshed R&D Tax Incentive guidance material would likely be published by the end of 2022. Updates to the R&D Tax Incentive content on the ATO website have now been made and it’s noted on the main R&D Tax Incentive section of the ATO website that content was ‘Last modified: 22 Nov 2022’. The main updates appear to be in relation to […]
A recent AAT decision published in November 2022 involved the case of a tax agent and firm (the Applicants), which ran a medium sized practice with approximately 450 client groups contesting a decision by the Tax Practitioners Board (TPB) who had decided to terminate the tax agent registrations and to disqualify them from applying for tax registration for a period of two years. The case is published in the public domain, but we have not named the firm here. Investigations initially undertaken by the […]
CSL is one of Australia’s greatest business and technical success stories and its shares have provided one of the best returns on the ASX among listed companies over the past decade. CSL has also been a very strong advocate of the R&D Tax Incentive and lobbied for maintenance of a strong and stable incentive to encourage local investment in R&D. A recent article in the Australian Financial review has detailed the process around receipt of US regulatory approval for the […]