General Information

Statutory Deadline for FY22 R&D Claims is Next Month

March 1st, 2023

Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2022 (companies that have a standard YE for tax) who are yet to do so should note that the standard Registration Deadline is 10 Months after YE, and 30 APRIL 2023. The blanket and automatic extensions granted during COVID do NOT apply any longer or for FY22 claims. Ausindustry has recently announced that due to interaction of weekends and public holidays with the day of the standard Registration Deadline, for the FY22 […]

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‘Pick a policy and stick to it’: CSL’s CEO calls for stability on innovation incentives.

February 16th, 2023

CSL is one of Australia’s greatest business and technical success stories and its shares have provided one of the best returns on the ASX among listed companies over the past decade. CSL has also been a very strong advocate of the R&D Tax Incentive and lobbied for maintenance of a strong and stable incentive to encourage local investment in R&D. In an article published in The Australian Financial Review, Paul Perreault, the CEO of CSL, says a bipartisan approach is needed to innovation […]

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Upcoming Senate Debate Over Reconstruction/Manufacturing fund

February 13th, 2023

Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstruction Fund to make medical technology and local manufacturing investments a top priority. Labor went on to win the election, and are now looking at legislative measures to enact the fund. The National Reconstruction Fund proposes a financing vehicle to specifically drive investment in projects seeking to build prosperity across the country, providing loans, […]

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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 […]

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Daniel McGregor  profile picture
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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