General Information

Real Energy Corporation Limited Provides Update on Status of Innovation Australia R&D Dispute

October 19th, 2020

Within its recent FY20 Annual Report posted to the ASX, Real Energy Corporation Limited (ASX: RLE) has provided an update on the status of the company’s dispute with AusIndustry/ISA over the eligibility of its R&D Activities. The company had previously received an adverse finding for R&D Tax Registrations during the FY14, FY15 and FY16 periods, with corresponding tax offsets in dispute totalling around $7.2M. Further potential unpaid R&D Tax offsets of around $6.5M are at stake for the FY17 to FY19 periods. RLE has appealed […]

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Procuring Quality R&D Tax Services, and Distinguishing From Those That “Maximise Your Claim and Ensure Compliance, But Are NOT Providing Tax Advice”

October 15th, 2020

Swanson Reed’s overall wish is to see a functional, broad based R&D Tax Regime that provides a generous, stable and predictable incentive for companies to conduct genuine R&D Activity. The Federal Government’s budget announcement last week backing away from proposed cuts to the programme was a step in the right direction. Our view is that R&D Tax Incentive programme is currently cleaner, and subject to less mischief than it has been in prior years, largely due to the widespread reported […]

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Federal Budget Update – R&D Tax Incentive a Winner

October 7th, 2020

Federal budgets under both major parties have not presented good news for the R&D Tax Incentive in recent years, with the flagship programme for encouraging business investment in R&D subjected to a series of proposed cuts via caps and rate reductions. This year’s budget has been a welcome change in the wake of the Government’s plan for COVID economic recovery. As was flagged by the media last week, the government has largely backed away from the unworkable changes in its […]

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AFR reports that government will back down on R&D Tax budget reforms

October 2nd, 2020

In December 2019, the government re-introduced a bill to reform the R&D Tax Incentive. This bill was a slightly modified version of a previous reform bill (Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018), which did not pass through the Senate at that time. A Senate Economics Legislation Committee recommended in February 2019 that the initial bill should be deferred from consideration until further analysis of the bill’s impact […]

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