Northern Minerals Ltd was one of the most high profile R&D tax disputes reported at the height of the R&D tax incentive compliance “crackdown” period. The company reported a significant liability in respect of regulators seeking repayment of disputed R&D tax offsets; It was subsequently reported in August 2020 that the company had settled the dispute with the ATO relating to claims in the FY17 and FY18 periods, along with an agreed framework for claims in the FY19 and FY20 […]
AusIndustry have changed their reporting processes whereby they are mandating the use of a new online form for FY21 onwards. As part of this, directors of companies must set up a myGovID account (or use an existing myGovID), then link their personal myGovID to their R&D-registering company, then link to the R&D tax advisor preparing the application. Instructions for this process to link Swanson Reed to your company are as follows: Note that if you have previously activated your company as […]
A recent AAT case (PKWK and Innovation and Science Australia (Taxation) [2021] AATA 706 (24 March 2021)) has found in favour of the R&D entity in a dispute over eligibility. The dispute related to a registration of activities for the financial year ended 30 June 2015 in respect of a registration for the following: Core Activity 1.1: Process design, modelling and mechanical design in respect of a soil treatment facility using pyrolysis technology; Supporting Activity 1.1.1: Project evaluation and documentation; Supporting Activity […]
AusIndustry have recently circulated a draft of new guidance on the eligilbity of software development activity under the R&D tax incentive. The guidance does not appear to materially differ from the principles of eligibility in other guidance documents published in recent years. Whilst the eligibility of software R&D activity was certainly scrutinised, particularly during the period from 2017 to 2019, a misconception occurred by some perceiving that software activities are not eligible under the R&D tax incentive. This is certainly not […]