Home » News » General Information

General Information

New ATO Clawback of R&D Tax Offset Guidance Published

February 6th, 2023

Under the amendments to the R&D Tax Incentive commencing for FY22, there was no change to the definition of eligible R&D activities and R&D expenditure. However there was a significant change to the clawback mechanisms, among other changes to offset calculations and administrative processes. The FY22 changes for Clawback Adjustment processes were particularly complex. The three types of clawback events provided for within the R&D Tax Incentive include: A feedstock adjustment is triggered when a company generates sales from input costs for which a […]

Read More

ATO and AusIndustry R&D Tax Incentive Presentations

January 30th, 2023

The Australian Taxation Office (ATO) and AusIndustry have advised that they will host a WEBINAR on 21 FEBRUARY 2023 for stakeholders seeking to learn more about the R&D Tax Incentive. The sessions aim to provide an introduction to the R&D Tax Incentive and guidance on key eligibility requirements. The sessions are being held online and registration details are available on business.gov.au.   Please get in touch with our office if you would like to speak to someone about a potential  R&D […]

Read More

2022 Annual Report for IISA Shows Rapid Decline in R&D Tax Dispute Litigation

January 23rd, 2023

Industry Innovation and Science Australia (IISA) is the government department responsible for determining whether companies’ activities meet the legislative criteria eligible under the R&D Tax Incentive. The 2021-22 Annual Report for IISA was recently released, and a section of the report provides an update on legal matters and litigation relevant to the department. When comparing the 2021-22 Annual Report with corresponding reports from preceding years, a rapid decline in the number of R&D Tax Disputes arising between companies and IISA is […]

Read More

ASX listed entities report substantial R&D Tax Offsets in recent months

January 16th, 2023

A number of Australian companies have reported substantial Refundable R&D Tax Offset receipts in recent months, including: Starpharma received a refund of $7.1M for FY22 R&D activity to progress three clinical-stage assets; ClearVue Technologies received a refund of $0.81M for FY22 R&D activity to progress its clean energy technologies; Estrella resources a refund of $1.01M for FY22 R&D activity related to its Carr Boyd Nickel project; Emyria received a refund of $2.1M for FY22 R&D Activity to support the registration […]

Read More

Categories

Archives