General Information

Recent AusIndustry explanations on registration processing timeframes

September 2nd, 2024

This time of year (shortly after financial year end) companies can often be eager to receive their R&D Registration notices to facilitate lodgement of R&D Claims within their company tax returns. This is particularly so for SME tax loss companies who may be seeking to receive Refundable R&D Tax Offsets within their tax returns. In a recent update, AusIndustry has commented on factors which impact registration processing times. The update noted: There are several factors which may impact the time it […]

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AusIndustry Publishes New Hypothetical Machine Learning Case Study.

August 26th, 2024

AusIndustry have recently published a case study to provide practical examples for eligibility of activities involving machine learning.    It’s probable that this guidance has been in response to a rising number of claims involving AI and ML type activities.   The examples in the case studies will assist R&D entities identify when they might have eligible R&D activities, and what information is relevant for assessing and showing eligibility.   In an earlier Swanson Reed blog post in recent weeks (titled: Assessment of AI related activities […]

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ATO’s First R&D Tax Incentive (R&D TI) Transparency Report

August 19th, 2024

The ATO have provided some additional details on their upcoming R&D Tax Incentive transparency reporting. An ATO update circulated August 2024 notes: We’ll publish our first annual Report of data about Research and Development tax incentive entities in late September 2024. It will contain specific data about R&D entities that claimed the incentive for the 2021–22 income year. By providing transparency of how much R&D entities are reporting in R&D expenditure, the aim of the report is to improve public accountability […]

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Assessment of AI related activities under the R&D Tax Incentive and potentially emerging compliance focuses

August 12th, 2024

Artificial Intelligence (AI) has been a hot topic in recent years with more companies seeking to utilise the technology in order to capitalise on gains in capability and efficiency. Increasing numbers of companies are investing in AI developments and anecdotally, this probably means an increasing number of companies submitting claims for AI related developments under the R&D Tax Incentive. However, whilst AI is a relatively new and developing field, companies need to be careful not to assume that projects involving […]

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Daniel McGregor
11. August, 2022
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I 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.
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John
15. June, 2022
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Damian and the rest of the team at Swanson Reed have been supporting us for several years. We always appreciate their insights, expertise, and efforts.
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Rueben Rajasingam
6. June, 2022
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Experienced 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.
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Enrique Esquivel
6. June, 2022
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Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
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Jess at Y&C
3. June, 2022
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Anatole Kononewsky
2. June, 2022
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The 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.
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Payam Toloo
2. June, 2022
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Damian 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.
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Melissa Doddy
31. May, 2022
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The 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.
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Gary Watson
31. May, 2022
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We 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.
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Rob van den Bergh
31. May, 2022
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Always professional.
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