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AusIndustry Guidance and Materials
Draft Legislation Released for R&D Tax Incentive
July 3rd, 2018The Government announced on 8 May 2018 that the Research and Development Tax Incentive (R&DTI) would be reformed and that changes would apply from 1 July 2018. Draft legislation has been released regarding amendments to the R&DTI. Stakeholder feedback is encouraged and responses can be submitted until 26 July 2018. Changes to the Bill include: Increasing the R&D expenditure threshold from $100 to $150 million; Introducing a $4 million cap on annual cash refunds (the cap excludes clinical trials). Refunds over […]
R&D Tax Incentive Changes Announced in 2018-19 Budget
May 9th, 2018In response to the recommendations in the ‘2016 Review of the R&D Tax incentive’ the government has announced proposed R&D Tax Incentive changes within the 2018-19 Federal Budget released yesterday, 8 May 2018. The changes take on board some recommendations from ISA’s previous review of the programme, along with some of the government’s own savings and integrity measures. The R&D Tax Offset rate will change, commencing for years on or after 1 July 2018. For companies claiming the refundable offset with […]
R&D Tax Incentive for ordinary business activities under ATO review
February 24th, 2017Business operators and advisors are being warned that the Australian Tax Office (ATO) are reviewing tax incentive claims made for ordinary business activities. The following review is intended to target the misuse of R&D claims, and anyone deliberately exploiting the tax breaks will be pursued in court. Misuse of R&D tax incentives consist of: A company registers one or more activities for the R&D Tax Incentive. Some or all of the activities registered are broadly described and non-specific. […]
ATO to review R&D Tax Incentive for construction activities
February 24th, 2017The arrangements of certain building and construction industry participants that are claiming the R&D Tax Incentive are being reviewed by the ATO and AusIndustry.The arrangements under review concern R&D claimants who are involved in either: Acquiring buildings or extensions Alterations or improvements Constructing, extending, altering or improving buildings. The review applies for instances where some or all of the expenditure: Is incurred on building and construction activities, which are expressly excluded from being taken into account in calculating an R&D […]
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News & Research
News & Research
News & ResearchR&D Tax Incentive Legislation Update
Last week, the Government introduced changes to the R&D Tax Incentive as part of an Omnibus Bill, following an announcement of the changes in May’s Federal Budget. It is uncertain whether the Bill will pass both the lower house of […]
Introduction The case Moreton Resources Ltd and Innovation and Science Australia (Taxation) [2018] AATA 3378 refers to a mining company that registered R&D activities for the years 2012, 2013 and 2014. After an examination of the registrations, Innovation and Science […]
