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ATO Guidance and Materials
FY22 R&D Registrations Now Open
July 1st, 2022Companies are now able to register R&D activities conducted during the year ended 30 June 2022 (FY22) with AusIndustry. For the FY22 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 FY22 appear not to have materially changed. The big changes for FY22 R&D c laims relate […]
R&D Tax Incentive – Reminder of Key Points Before 30 June
June 24th, 2022Companies planning registration of R&D activities in the FY22 period (for the YE 30 June 2022) should be mindful of the following before the upcoming end of the financial year: Findings for overseas activities: Companies seeking to claim expenditure for overseas activity in their FY22 R&D claims must apply to claim these costs by lodging an Overseas Finding Application before the end of the financial year (i.e. 30 June). In addition to general eligibility criteria, there are specific and extensive […]
ATO Release 2022 R&D Schedule Including Changes
June 2nd, 2022R&D claims for the YE 30 June 2022 involve a number of changes from prior years, reflective of the legislative amendments arising in the October 2020 budget. These amendments change the mechanisms for calculation and reporting of R&D tax offsets to the ATO, which also presents the need for corresponding changes in the company tax return. In late May 2022, the ATO released its Research and Development Tax Incentive Schedule 2022 (NAT 73794) with corresponding changes to the labels within. […]
ATO Debts on Hold Will Again be Used to Offset Tax Refunds or Credits Starting June
May 23rd, 2022Accountants Daily have reported an ATO announcement that ‘debts on hold’ will again be used to offset tax refunds or credits starting next month. A non-pursued debt is a debt that has been placed on hold and is not visible on the balance of a taxpayer account. When a debt is placed on hold, the ATO do not undertake any collection action, usually because it is not economical to do so. A debt deemed uneconomical for collection action will be […]
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Daniel McGregor2022-08-11I 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.
John2022-06-15Damian 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 Rajasingam2022-06-06Experienced 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 Esquivel2022-06-06Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
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Anatole Kononewsky2022-06-02The 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 Toloo2022-06-02Damian 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 Doddy2022-05-31The 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 Watson2022-05-31We 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 Bergh2022-05-31Always professional.
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News & Research
News & Research
News & Research30 April Statutory Deadline for FY23 R&D Claims – One Week to Go
There is one week to go until the deadline for FY23 R&D Registrations. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do […]
The matter concerns an individual charged by the Commonwealth DPP for attempting to unlawfully obtain a refund under the R&D Tax Incentive. Before being charged, the taxpayer was compulsorily examined by the ATO. The individual had applied to stay the […]
