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Monadelphous Successfully Challenges R&D Tax Dispute Following Conclusion of Internal Review
January 11th, 2021One of the most high profile R&D Tax disputes has been that of engineering contractor Monadelphous. In August 2019 Monadelphous recognised a $7 Million provision relating to repayment of R&D Claims for the FY15 and FY16 periods. The provision indicated that the underlying disputed R&D Activities may have R&D Expenditure of around $70 to $80 Million, and followed a previous announcement in May 2019 that the company had received notices of amended assessments from the ATO relating to findings by […]
Strike Energy (ASX:STX) Announces R&D Tax Dispute Settlement and Pursuit of Subsequent Claims
September 14th, 2020Strike Energy had previously disclosed R&D Tax Offsets in dispute with Innovation & Science Australia (ISA) in respect of the FY16 period of $6,333,638, which also had subsequent implications on R&D Tax Offsets in the FY17 period of $3,697,000. Announcements to the ASX in recent months indicated that: The matter was currently before the Administrative Appeals Tribunal (AAT); The company was confident in their position and the eligibility of their claims; Strike Energy has since announced to the ASX on […]
Moreton Resources (Subject Of R&D Tax Disputes) Enters Voluntary Administration
June 16th, 2020Moreton Resources Ltd announced to the ASX on 10 June that the company has appointed administrators. Moreton Resources Ltd had become well publicised for its ongoing R&D tax disputes with Innovation and Science Australia: A decision by the AAT in September 2018 found in favour of Innovation and Science Australia, concluding that registered R&D Activities were not R&D Activities in accordance with the legislative criteria; A subsequent appeal to the federal court in July 2019, found in favour of Moreton […]
Argent Minerals Settles R&D Tax Dispute Allowing Some Of Previously Disputed Claim To Be Deemed Eligible
May 26th, 2020Argent Minerals Limited has previously disclosed a liability in the company’s 2019 annual report for “R&D Claims repayable” of approximately $1.4M. This liability was in respect of R&D Tax Offsets for the FY16 and FY17 periods that AusIndustry had found relate to ineligible activities. Argent Minerals Limited had also reported that the company remained of the view that its R&D activities were eligible, and intended to pursue dispute of the adverse finding. The company has announced to the ASX over the past week […]
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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.
John2022-06-15Damian and the rest of the team at Swanson Reed have been supporting us for several years. We always appreciate their insights, expertise, and efforts.
Rueben Rajasingam2022-06-06Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.
Enrique Esquivel2022-06-06Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
Jess at Y&C2022-06-03
Anatole Kononewsky2022-06-02The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
Payam Toloo2022-06-02Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.
Melissa Doddy2022-05-31The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end. Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
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.
Rob van den Bergh2022-05-31Always professional.
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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 […]
