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ATO Guidance and Materials

Joint AusIndustry and ATO Information Sessions in August

August 2nd, 2023

AusIndustry have announced that on Thursday the 24th of August, they will be conducting a joint event with the ATO to provide introductory level information regarding the R&D Tax Incentive. The sessions are noted as covering: The benefits offered by R&D Tax Incentive Who can apply What R&D activities and expenditure are eligible The importance of record keeping When and how to apply Information regarding registration to attend the session is available on the AusIndustry website. Please get in touch […]

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Federal Court Decision re: R&D Entity Claiming Overseas Components Without an Overseas Finding

July 13th, 2023

As noted on the Swanson Reed blog in November 2022, an AAT decision handed down in October 2022 (T.D.S BIZ PTY LTD and Commissioner of Taxation) considered the case of an R&D Entity attempting to claim the cost of overseas moulds, fabrication, CAD and assembly within their R&D Tax Incentive claim without having first attained an Overseas Finding from AusIndustry. This was one of the only administrative decisions to consider the specific issue of: Is R&D expenditure related to the […]

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FY23 R&D Registrations Now Open

July 3rd, 2023

Companies are now able to register R&D Activities conducted during the year ended 30 June 2023 (FY23) with AusIndustry. For the FY23 period, the application process is again administered through the new online customer portal which was introduced for the prior FY21 period. There were substantial changes made to the R&D Activity technical description requirements in FY21, however the AusIndustry activity disclosure requirements for FY23 appear not to have materially changed. In addition, as the major changes for calculation of […]

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New Draft Tax Determination on Aggregated Turnover and Connected Entities – Commissioner’s Discretion That an Entity does not ‘Control’ Another Entity

June 29th, 2023

On 28 June 2023 the ATO has published Draft Tax Determination TD 2023/D2 on aggregated turnover and connected entities – Commissioner’s discretion that an entity does not ‘control’ another entity. Under the R&D Tax Incentive a company’s rate of R&D tax offset and whether it is refundable or not depends primarily on the R&D entity’s aggregated turnover: If an entity’s aggregated turnover is less than $20 million and it is not controlled by any exempt entities, then the company can […]

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