Real Energy Corporation Limited (ASX : RLE) have announced to the ASX that the company has received notice that AusIndustry has found the company’s R&D Activities for the FY14, FY15 and FY16 years to be ineligible. During the period of the last three years, Real Energy Corporation Limited has been paid around $7.2 million in R&D Incentives and potentially unpaid R&D claims of around $6.5 million. The R&D activities related to development of gas extraction processes and in the […]
Over the past six months, the R&D Tax Incentive became a discussion point and the major political parties have differed in their views. Labor sought to position themselves as prioritizing the R&D Tax Incentive over the coalition government, and had made specific policy announcements including: Criticising the programme’s cost reduction in the budget papers, and stating a Labor government would use the R&D Tax Incentive as a means of increasing Business Investment in R&D (BERD); A proposed introduction of a collaboration […]
Opposition Innovation, Industry and Science Spokesman Senator Kim Carr has been quoted in the AFR today with respect to Labor’s innovation policy during the federal election campaign. Carr Indicated that if Labor were to win the election, he would work with AusIndustry, the ATO and Treasury with respect to reviewing the processes for compliance assessments of R&D claims. Carr indicated that striking a balance between programme integrity and ensuring that claimants aren’t treated unjustly is important to ensuring the best […]
The Federal Government handed down their budget on 2 April 2019 and whilst there appeared to be no specific new changes proposed to the R&D Tax Incentive, the forward estimates cost of the programme is projected to reduce by $1.35 billion. It is not clear whether this cost reduction is a product of: The legislative changes proposed in the last federal budget being introduced. These changes were recently the subject of a Senate Economics Committee review that recommended the changes […]