August, 2019

Tax Commissioner Comments On R&D Tax Incentive Compliance Difficulties

August 29th, 2019

During a presentation to the Council of Small Business Organisations of Australia National Small Business Summit, tax commissioner Chris Jordan has commented that there is a structural problem with the operation of the R&D Tax Incentive, particularly surrounding the self assessment regime whereby the ATO may undertake reviews following a previous registration of R&D Activities and receipt of funds. In comments published by the Sydney Morning Herald, Chris Jordan was critical of the R&D “industry” that has emerged in professional […]

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Ombudsman To Deliver Findings On Investigation Into R&D Tax Compliance Reviews

August 28th, 2019

The Australian Small Business and Family Enterprise Ombudsman have announced that they will deliver the findings of an investigation into the processes for compliance reviews of companies registering activities under the R&D Tax Incentive. The announcement has noted that certainty of eligibility is essential if the R&D Tax Incentive is to fulfill the purpose of the legislation, which is to incentivise small businesses to invest in R&D. The need for this investigation highlights that R&D claims continue to be under […]

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OECD Figures show Australian R&D Investment Declining Against Peers

August 27th, 2019

A report published by The Sydney Morning Herald has detailed how Australia has fallen from 114 to 107 in 2017-18, according to an OECD index of R&D investment by government. The index, measured through purchasing power parity, is expected to drop again if/when a proposed 2019 budget cut to the R&D Tax Incentive of $1.3 billion comes into effect; The reports of decline come amidst: federal treasurer Josh Frydenberg calling upon business to increase their investment in Australia as a […]

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Monadelphous recognises $7 Million provision for disputed R&D Tax Claims

August 21st, 2019

Engineering contractor Monadelphous has released its FY19 annual report this week, and within recognised a $7 Million provision┬árelating to repayment of R&D Claims for the FY15 and FY16 periods. The provision would indicate that the underlying disputed R&D Activities may have R&D Expenditure of around $70 to $80 Million. Monadelphous had previously reported to the ASX in May 2019 that the company had received notices of amended assessments from the ATO relating to findings by Innovation Australia that R&D Activities […]

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Swanson Reed - Specialist R&D Tax Advisors
Swanson Reed - Specialist R&D Tax Advisors
39 Google reviews
Daniel McGregor
Daniel McGregor
2022-08-11
I 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.
John
John
2022-06-15
Damian 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 Rajasingam
Rueben Rajasingam
2022-06-06
Experienced 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 Esquivel
Enrique Esquivel
2022-06-06
Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
Jess at Y&C
Jess at Y&C
2022-06-03
Anatole Kononewsky
Anatole Kononewsky
2022-06-02
The 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 Toloo
Payam Toloo
2022-06-02
Damian 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 Doddy
Melissa Doddy
2022-05-31
The 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 Watson
Gary Watson
2022-05-31
We 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 Bergh
Rob van den Bergh
2022-05-31
Always professional.