For Accountants

The Tax Institute 2017 Property and Construction Seminar

January 30th, 2017

Swanson Reed invites you to attend The Tax Institute’s 2017 Property and Construction seminar. Damian Smyth, Principal, and Gloria Lim, Senior Manager, will be presenting an informative session discussing R&D tax incentive issues relevant to the construction industry. About the event The Tax Institute 2017 Property & Construction intensive is the essential professional development seminar for in-house finance and tax resources and tax practitioners that have exposure to the property and construction industries. Now extended to two full days of sessions, this popular […]

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Omnibus Bill - Reduction in R&D Tax Offset Rate

September 19th, 2016

The Omnibus Bill passed both houses of parliament last week and included $6.5 billion of savings measures. Included within these measures was a uniform 1.5% reduction in the R&D Tax Offset rates applying for income years starting on or after 1 July 2016. Whilst returning the budget to surplus is an important task for the government, this reduction is disappointing as the R&D Tax Incentive is the primary mechanism for inducing corporate investment in R&D Activity. The stability of the […]

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Is Innovation Growth Suffering in Australia?

August 22nd, 2016

During the 2016 Australian Financial Review innovation summit this past week, Dr. Alan Finkel Australia’s chief scientist, spoke to the imbalance of government spending on innovation. Business Insider quoted Dr. Finkel saying, “If science turns money into knowledge – then innovation turns knowledge back into money, and generally a lot more money than the taxpayers put in.” While referring to the potential gains of innovation investment from the government, the Doctor proceeded to share a shocking statistic that industry leaders […]

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R&D Tax - Important 30 June Planning for Companies

June 23rd, 2016

The following R&D tax claim information will apply to companies that: have recently submitted a 2015 R&D claim; and intend to submit a 2016 R&D Claim. Upcoming AusIndustry Compliance Activity Over the next few months, AusIndustry will likely start compliance activity for FY15 applications that were lodged around the April 30 deadline. If reviewed, companies claiming the R&D Tax Incentive must substantiate to AusIndustry that: the registered activities occurred; and the claimed activities were in accordance with the R&D Tax legislation. […]

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