The R&D Tax Incentive in its current form (superseding the previous R&D Tax Concession) was originally enacted in September 2011, applying for the FY12 period. AusIndustry has recently posted on its website some success stories of Australian companies making effective use of the programme, including: Vaxxas – bringing the world new needle-free vaccine technology; RayGen – bringing new renewable energy technology to the world. It has been an interesting decade, and whilst the programme has certainly greatly supported many companies, […]
The ATO have recently released their annual report for the FY21 period, which is designed to inform parliament, stakeholders and the community about how the ATO have administered the tax and superannuation systems. Within the report are final statistics on the R&D Tax Incentive, which is jointly administered by the ATO and AusIndustry. Key statistics on the incentive from the period are as follows: Value of claims processed for the 38.5% R&D Offset was Steady from the prior year: $2.2b […]
Under the legislative amendments to the R&D tax legislation passed in 2020, a new administration measure was enacted relating to the publication of claimant data. The intention of the change was to enhance the transparency of the R&D tax incentive, and align it with other programmes where details of recipients of public support are noted in the public domain. An indication has recently been provided of how this will work in practice, and this is in accordance with the passed […]
Swanson Reed has appeared on this week’s episode of the TWISTA (This Week in Startups Australia) Podcast with Mark Pesce. Topics covered include key documentation requirements for claimants of the R&D Tax Incentive and important planning measures leading up to 30 June. TWISTA is an Australian-focused podcast series seeking to help startups thrive, with interviews and advice from the leading founders, investors, and thinkers in Australia’s tech startup community. TWISTA is available through the Apple Podcasts platform.