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Government and Opposition Comments on New ABS Report on BERD
September 14th, 2021InnovationAus has cited a new ABS report finding that business expenditure on R&D (BERD) was $18.17 billion in 2019-20, slightly below the $18.32 billion that businesses spent in 2011-12 at today’s prices. The article included comments from recently appointed Industry Minister, Christian Porter, noting that: “The increase in business expenditure on research and development of 4.2 per cent to more than $18 billion during 2019-20 is encouraging to see, especially given it includes a significant period of time affected by […]
Consultation Around Sunsetting and Amendments to IR&D Decision-Making Principles and Regulations
September 6th, 2021– The Industry Research and Development Act 1986 supports the administration of the Research and Development Tax Incentive. Two legislative instruments under the act are scheduled to sunset on 1 April 2022: Industry Research and Development Decision-making Principles (Decision-making Principles) Industry Research and Development Regulations (Regulations) – These principles and regulations contain rules around: Processes for lodgement of filings with AusIndustry (who administer the R&D Tax Incentive), including registration applications, overseas findings and responses to requests for information; The powers […]
Imdex Ltd posts strong FY21 result leveraging R&D Investment
August 30th, 2021Imdex Limited (ASX: IMD) is a WA-based company providing technology and equipment for the mining industry. The company offers a range of products and services, including: Drilling optimisation products; Rock knowledge sensors; Real time data and analytics solutions; Imdex Limited’s FY21 results were well received by the ASX, and concludes a year in which the company’s share price has almost doubled. An emphasis within the company’s results presentation released in August was the company’s R&D investment during the FY21 period. The […]
Swanson Reed in InnovationAus Article on state of R&D Tax Compliance
August 26th, 2021InnovationAus has this week published an article including comments from Swanson Reed regarding the state of R&D tax compliance, particularly for projects involving software development activity. The article comes following a turbulent period in the R&D Tax Incentive, including: Multiple proposed and eventually passed amendments to the legislation underpinning the R&D Tax Incentive; A widely reported crackdown on claims involving software development during the period 2017 to 2019. Airtasker’s R&D tax dispute for FY15 and FY16 being the most publicised […]
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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 & Research30 April Statutory Deadline for FY23 R&D Claims – One Week to Go
There is one week to go until the deadline for FY23 R&D Registrations. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do […]
The 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 […]
