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July, 2024
AusIndustry Changes to Advance and Overseas Finding R&D Application Forms
July 29th, 2024Companies seeking to claim expenditure for overseas activity incurred by an Australian company under the R&D Tax Incentive must apply separately to claim these costs by first lodging an Overseas Finding Application with AusIndustry. Also, companies seeking AusIndustry’s view on eligibility of activities can lodge an Advance Finding Application with AusIndustry. Ausindustry have announced this week that an updated version of the Advance and Overseas Finding (AOF) form is now available through the R&D Tax Incentive customer portal. All applicants are now required to […]
New OECD report notes Australia’s R&D tax incentives among world’s most generous
July 22nd, 2024The latest annual report from the OECD has noted that Australia’s R&D tax incentives are among the most generous in the developed world. An article by the Accounting Times has covered the OECD report well and detailed ket points from the report including: Australia was one of a handful of countries that provided two-thirds or more of its government support for business R&D through tax incentives; Generous R&D tax relief provisions compensate for relatively low levels of support through direct […]
Swanson Reed presenting R&D Tax update at MSIA Event – July 2024
July 15th, 2024Swanson reed is providing an update on the R&D Tax Incentive at an event on Thursday, July 25th, 2024 in Brisbane presented by MSIA (Medical Software Industry Association). The 2024 MSIA Brisbane event is being held in conjunction with the Australian Digital Health Agency (ADHA) to provide a full day of updates and insights in Digital Health. Swanson Reed’s update will provide an update on R&D Tax including insight into current policy discussions leading into the upcoming review of Australia’s […]
Significant Refundable R&D Offsets receipts reported to the ASX in recent months
July 8th, 2024Over recent months, a number of companies have reported to the ASX receipt of substantial Refundable R&D Tax Offsets. Notable receipts include: Recce Pharmaceuticals (ASX: RCE) received $2.6 M related to its anti-infective platform; Latrobe Magnesium (ASX: LMG) received $12.5 M related to Magnesium extraction technology; Group 6 Metals (ASX:G6M) received $14.3 M related to processes for producing higher value tungsten products Orthocell Limited (ASX: SNT) received $3.05 M related to its mobility regeneration technology; Botanix (ASX: BOT) received $3 […]
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News & Research
News & Research
News & ResearchFollowing the support of both major political parties, the legislation to enact the publication of Research and Development (R&D) expenditure claimant information was passed in 2021. Reforms to the policy and administration of the R&D Tax Incentive (R&DTI) program were within Treasury Laws […]
Cochlear Comments on Australian R&D Tax and Innovation Policy
A recent article in The Australian has outlined comments from Dig Howitt, CEO of Cochlear, who believes Australia is at a crossroads when it comes to commercialising new innovative products. Howitt noted the country’s current tax regime hinders research and development […]
