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AusIndustry Guidance and Materials

AusIndustry Issues Details of Revised Integrity Management Approach

December 20th, 2019

AusIndustry have circulated a link to an update on their website in respect of a revised integrity management approach, which is detailed here. This update has come following the release of an Australian Small Business and Family Enterprise Ombudsman (ASBFEO) report on the administration of the R&D Tax Incentive, which was critical of some aspects of the processes for compliance reviews. Key highlights from AusIndustry’s update include the following: A stated commitment to two way engagement and transparent decision making; A […]

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Small Business Ombudsman completes review of R&D Tax Incentive administration processes

December 12th, 2019

In recent months it was reported that the Australian Small Business and Family Enterprise Ombudsman had been conducting a review of the administration of the R&D Tax Incentive’s administration. The report has now been completed and is available here. Some key recommendations by the Ombudsman’s report include the following:  “Where compliance examinations/audits are necessary, they should take place as close as possible to the first year of registration of a project. Statutory examinations by AusIndustry should not be retrospective beyond […]

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Reintroduction of legislation to reform R&D Tax Incentive

December 5th, 2019

The federal government has today reintroduced legislation to reform the R&D Tax Incentive (Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019) which is detailed here. The previous bill attempting to reform the R&D Tax Incentive did not pass through the Senate, and a Senate Economics Legislation Committee recommended that the bill should be deferred from consideration until further analysis of the bill’s impact is undertaken, particularly with respect to concerns around the proposed intensity threshold and refundable offset […]

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Monadelphous discloses it will submit no R&D claim for current period

October 15th, 2019

As has been reported in the media previously, MONADELPHOUS GROUP LIMITED has recognised a 6.3M provision in its FY19 results with respect to a potential repayment of base tax liability for disputed R&D Claims in the FY15 and FY16 periods. Monadelphous announced to the ASX in May 2019 that the company had received notices of amended assessments from the ATO relating to findings by Innovation Australia that R&D Activities registered in the FY15 and FY16 periods were not eligible, and […]

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