On 12 September 2018, Moreton Resources Ltd announced on the ASX that the Administrative Appeals Tribunal (AAT) recently affirmed a decision by Innovation and Science Australia (ISA) that registered R&D activities were not eligible. This was decided on the basis that underground coal gasification is a known and proven technology and is therefore not considered a research and development activity, as defined by the 1997 Income Tax Assessment Act. The AAT have issued an amended assessment for $9M. Moreton Resources […]
Bigger Better Faster Stronger One of the greatest strengths of the human race is our continual practice of innovation – we are always creating newer, better, faster and safer ways of completing the tasks and challenges we face. As robots have become a major topic of conversation many have begun to wonder; will robots be another success for humanity or a colossal disaster? Well, first we must determine what exactly is meant by the term robot. A robot is a […]
Over the last twelve months there has been substantial activity in respect to the research and development (R&D) tax incentive with various announcements broadcasted by the government and a declaration of a review of the programme. As a result, the discourse of business and government in Australia is rife with mentions to innovation, disruption and dexterity. Last night, the treasury announced the 2016-2017 budget, signifying a major step in making Turnbull’s innovation goals a reality. In light of this, the […]
Summary of 104 160 689 matter Taxation Ruling – TR2013/3 Click Here Taxation Ruling: TR 2013/3A1 – Addendum Click Here GHP 104 160 689 Pty Ltd v. Commissioner of Taxation Click Here The ATO has issued a Decision Impact Statement in relation to the recent decision handed down in the AAT, GHP 104 160 689 Pty Ltd and FCT [2014] AATA 515; 2014 ATC 10-373 The case concerned whether certain expenditure was to be disallowed deductibility at the rate of […]