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Big businesses against R&D tax exclusions

January 31st, 2014

The recent submissions to the Economics Legislative Committee were an opportunity for business’ to voice their opinions on recent proposed R&D tax exclusions put forward in the Tax Laws Amendment (Research and Development) Bill 2013. Swanson Reed supported the proposed changes in our submission due to potential benefits to SMEs and the Australian economy (Click here to view our blog on our submission). However big businesses have used the opportunity to fight the proposed changes. The Australian reported on the […]

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Review R&D Case Law: substantiating an experiment – Compliance burden or insightful planning?

October 24th, 2013

Changes to the definition of eligible activities; uncertainties around the definition of new terms, such as dominant purpose; and recent decisions handed down in the Administrative Appeals Tribunal (AAT) regarding substantiation have all contributed to additional uncertainty for taxpayers during the transition to the new R&D Tax Incentive. In the AAT, a number of decisions have been handed down, deciding against taxpayers on the basis that the documents provided were insufficient or inappropriate for substantiating the R&D claims. While the […]

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R&D Tax Incentive Claim for KBL Mining

May 31st, 2013

Australian resource company KBL Mining has advised it is lodging an R&D Tax Incentive claim for the 2011-12 financial year. The claim is for some AUD$12.5 million for R&D activities in process development. For the 2010 and 2011 financial years KBL received an R&D cash rebate  of $1.1 million. Eligibility for the rebate is subject to the Company meeting all relevant taxation eligibility criteria for obtaining a refundable tax offset and the claim may be reviewed by either the Australian Taxation […]

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Clinical Trials R&D Tax Incentives

May 29th, 2013

A report of Australian clinical trial costs is flawed according to Industry claims. The report on the global competitiveness of 14 countries came out this time last year, in which Australia was ranked as the second most expensive country to run clinical trials. Australian R&D Industry representatives are now making noise in response to the report. The report rankings were based on areas such as labour costs, transport, facility lease costs and utilities such as electricity. Exact data sources are unclear […]

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