On 10 December 2024 the ATO released TA 2024/1: Early stage investor tax offset claimed using circular financing arrangements. The alert notes that: The ATO are currently reviewing cases where individuals have claimed the early stage investor tax offset on shares acquired through tailored financing arrangements. These arrangements appear designed to artificially meet the conditions for claiming the maximum tax offset, allowing individuals to benefit with minimal (if any) risk on their investment. Entities promote, orchestrate, and finance these schemes […]
In the May 2024 federal budget, The Albanese Government announced a strategic examination and review of Australia’s R&D system to align it with national priorities and improve outcomes. This week, Ed Husic has announced specific details to launch the review, the first such comprehensive review in nearly 20 years. The review will assess how to maximise the value of R&D investments, strengthen industry linkages, and support national priorities. The review will examine existing systems, such as the Research and Development Tax Incentive […]
In the May 2024 federal budget, The Albanese Government announced a strategic examination and review of Australia’s R&D system to align it with national priorities and improve outcomes. InnovationAus has recently provided an updated on the status of the review and noted that terms of reference for the review are awaiting approval from The Albanese government and that the review will not be completed for at least another year. Australia’s R&D investment has been declining for over a decade, now […]
AusIndustry have announced they will be conducting a R&D Tax Incentive Registration webinar on TUESDAY 12 NOVEMBER 2024. This webinar material notes that it will be introductory and will cover: An introduction to the program; Guide through the key eligibility requirements; Provide the opportunity to ask questions. Representatives from AusIndustry and ATO are noted as being in attendance. Registration material is on the AusIndustry website. Please get in touch with our office if you require assistance, would like to speak to someone about […]