October, 2020

Opposition Comments on Government’s Revised R&D Tax Reforms Passed From the Federal Budget

October 26th, 2020

When the federal government announced in December 2019 that they would reintroduce their previous R&D Tax Reform bill with a proposed start date of July 2019 for FY20, it was met with widespread condemnation from industry leaders. The bill reintroduced at that time was largely focused on savings measures, and was a slightly modified version of a previous reform bill, which did not pass through the Senate. The Senate Economics Committee had noted concerns around the proposed intensity threshold and […]

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Real Energy Corporation Limited Provides Update on Status of Innovation Australia R&D Dispute

October 19th, 2020

Within its recent FY20 Annual Report posted to the ASX, Real Energy Corporation Limited (ASX: RLE) has provided an update on the status of the company’s dispute with AusIndustry/ISA over the eligibility of its R&D Activities. The company had previously received an adverse finding for R&D Tax Registrations during the FY14, FY15 and FY16 periods, with corresponding tax offsets in dispute totalling around $7.2M. Further potential unpaid R&D Tax offsets of around $6.5M are at stake for the FY17 to FY19 periods. RLE has appealed […]

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Procuring Quality R&D Tax Services, and Distinguishing From Those That “Maximise Your Claim and Ensure Compliance, But Are NOT Providing Tax Advice”

October 15th, 2020

Swanson Reed’s overall wish is to see a functional, broad based R&D Tax Regime that provides a generous, stable and predictable incentive for companies to conduct genuine R&D Activity. The Federal Government’s budget announcement last week backing away from proposed cuts to the programme was a step in the right direction. Our view is that R&D Tax Incentive programme is currently cleaner, and subject to less mischief than it has been in prior years, largely due to the widespread reported […]

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R&D Tax Budget Reforms Applauded By Australian Industry Leaders

October 12th, 2020

When the federal government announced in December 2019 that they would reintroduce their R&D Tax Reform bill with a proposed start date of July 2019 for FY20, it was met with widespread condemnation from industry leaders. The reintroduced bill was a slightly modified version of a previous reform bill, which did not pass through the Senate, and previous review by the Senate Economics Committee noted concerns around the proposed intensity threshold and refundable offset cap. A co-ordinated lobby effort then […]

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