General Information

AusIndustry Produced Video: How to Register Your R&D Activities for the R&D Tax Incentive

January 23rd, 2024

Ausindustry have published a new video this month which has been promoted on the ATO and AusIndustry websites. The video provides information on how to register R&D activities, and includes a step-by-step through the registration process. It’s designed to make using the portal easier, faster and more efficient. The video uses software-specific examples. AusIndustry has recommend viewing this video well before registration deadlines (which is approaching for FY23 June Year End companies), especially if registering for the first time. Please […]

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New AAT Case Finds Development of Shoe to Suit Professional Basketball Player NOT Eligible Under the R&D Tax Incentive

January 15th, 2024

A new AAT decision handed down in December 2023 (Active Sports Management Pty Ltd and Industry Innovation and Science Australia) has found that activities in respect of development of a customised basketball shoe were not eligible under the R&D Tax Incentive. Background points from the case include: Active Sports Management Pty Ltd, the applicant, carries out a business which includes importing and selling sports apparel, footwear, accessories, hoodies, and tracksuits, among other things. It also designs and develops products for the […]

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December 2023 MYEFO indicates cost of R&D Tax Incentive is growing

January 9th, 2024

The 2023‑24 Mid‑Year Economic and Fiscal Outlook (MYEFO) was released by the Government in December 2023. New estimates within MYEFO show the R&D Tax Incentive (‘RDTI’) is expected to cost an extra $2.1 billion over the next four years, including an additional $432 million in FY22-23. According to the report, the increase is being driven primarily by claims arising from biomedicine, artificial intelligence, and machine learning activities. It’s part of a growing trend: software claims accounted for 30% of RDTI […]

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New ATO Alerts on R&D Tax: 1: Activities Delivered by Associated Entities AND 2: Activities Conducted Overseas for Foreign Related Entities

December 18th, 2023

On 15 December 2023, the ATO has released two new taxpayer alerts: Taxpayer Alert TA 2023/4 Research and development activities delivered by associated entities. This relates to arrangements identified by the ATO where an entity incorrectly claims the R&D tax offset for expenditure incurred under an agreement with an associated entity who conducts those activities. Taxpayer Alert TA 2023/5 Research and development activities conducted overseas for foreign related entities outlines ATO concerns about arrangements where Australian entities claim the R&D tax offset for […]

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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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