General Information

Argent Minerals (ASX:ARD) Announces Details of R&D Tax Dispute Settlement and Progression of Further Claims

August 17th, 2020

Argent Minerals Limited has previously disclosed a liability in the company’s 2019 annual report for “R&D Claims repayable” of approximately $1.4M. This liability was in respect of R&D Tax Offsets for the FY16 and FY17 periods that AusIndustry had found related to ineligible activities. Argent Minerals Limited had, at the time reported that the company remained of the view that its R&D activities were eligible, and intended to pursue a dispute of the adverse finding. In May 2020, the company […]

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Adjustments Required to R&D Claims for JobKeeper Payments – ATO Position Released

July 28th, 2020

As had been anticipated, the ATO will be requiring adjustments to R&D claims that contain salaries reimbursed by the JobKeeper Scheme. Companies lodging FY20 R&D claims who have also received the JobKeeper stimulus must carefully review and adjust R&D claims where necessary. The basis of this need for adjustment is the ATO’s position that companies are not deemed to incur salary expenditure at their own financial risk where such costs are being reimbursed by the Job Keeper Scheme. Draft Taxation […]

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Telix Pharmaceuticals reports receipt of $11.4M Refundable R&D Tax Offset

July 27th, 2020

Melbourne based Telix Pharmaceuticals Ltd has reported during the week receipt of a $11.4M Refundable R&D Tax Offset in respect of activity conducted during the YE 31 December 2019. This would be one of the largest single year Refundable offset receipts in the history of the R&D Tax Incentive, and infers an R&D Expenditure of approximately $26M AUD. The underlying activity relates to development of diagnostic and therapeutic products using molecularly targeted radiation. Receipt of a tax offset of this magnitude reduces […]

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Australian National Audit Office To Audit The R&D Tax Incentive

July 23rd, 2020

The Australian National Audit Office (ANAO) is set to undertake an audit of the government’s administration of the R&D Tax Incentive scheme this year. This will be the first time the ANAO has looked at the scheme since it was introduced in July 2011. The audit will aim to assess the effectiveness of the R&D Tax Incentive’s administration by the Department of Industry, Science, Energy and Resources and the ATO.  Small Business Ombudsman Kate Carnell was quoted in InnovationAus, stating […]

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