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March, 2014
IR&D Board v IMT Ltd [2001] FCA 85
March 27th, 2014The respondent (IMT) brings a motion seeking an order that the matter be remitted to the Administrative Appeals Tribunal (AAT), as originally constituted (subject to the availability of the relevant members) to be determined according to law without the hearing of further evidence other than as determined by the AAT. Background: The motion arises as the consequence of the lodgement of a notice of appeal by the Industry Research and Development (IR&D) Board from the decision of the AAT on […]
Tier Toys Limited v Commissioner of Taxation [2014] AATA 156
March 26th, 2014The AAT has upheld the Commissioner’s decision to reduce a taxpayer’s claim for the research and development (R&D) tax offset because the latter could not prove that the disputed expenditure was incurred. Facts The taxpayer was incorporated in 2006. It registered its R&D project for the 2006/07 income tax year with AusIndustry. The R&D activities involved manufacturing a children’s multi-layered “stacker” toy using an experimental and novel injection moulding process. The taxpayer claimed expenditure that included fees for personal services […]
ATO ruling on software development
March 20th, 2014On 12 March 2014, the ATO issued Taxation Ruling TR 2014/1 titled “Income tax: commercial software licensing and hosted agreements: derivation of income from agreements for the right to use proprietary software and the provision of related services”. This ruling deals with when commercial software developers derive income for the purpose of s 6-5 of the Income Tax Assessment Act (ITAA) 1997 from: (i) licence agreements for proprietary software; and (ii) hosted or cloud arrangements for use of proprietary software. […]
Large firms to be denied R&D tax incentives
March 18th, 2014This afternoon, the Senate Economics Legislation Committee (“the Committee”) tabled their report into the Tax Laws Amendment (Research and Development) Bill 2013 (“the Bill”). As it stands, the Bill proposes that companies with an aggregated assessable income of $20 billion or more are to be denied access the R&D Tax Incentives. The Bill is expected to save approximately $1 billion annually and apply to income years commencing on or after 1 July 2013. The Committee recommended that the Bill be […]
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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.
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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.
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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 […]
