With troubled commodity prices, higher employment costs and a diminishing manufacturing sector, Australia’s immediate future doesn’t look bright. Unlike the United Kingdom, the United States and most of the developed world, Australia has no current innovation strategy or policy. If we don’t act quickly to develop a plan to support innovation, particularly SME’s in the manufacturing sector, business confidence will fall, and investment in long term projects will disappear. It is the responsibility of Government to plan and incentivize our future. […]
For information about upcoming requirements for June year end companies, please click here. Eligibility Checklist: Are you Eligible to claim the R&D Tax Incentive? Check out our Eligibility Wizard to find out. Audit Checklist: Can you handle an AusIndustry Audit? Take our questionnaire to find out.
On 12 March 2014, the ATO issued Taxation Ruling TR 2014/1 titled “Income tax: commercial software licensing and hosted agreements: derivation of income from agreements for the right to use proprietary software and the provision of related services”. This ruling deals with when commercial software developers derive income for the purpose of s 6-5 of the Income Tax Assessment Act (ITAA) 1997 from: (i) licence agreements for proprietary software; and (ii) hosted or cloud arrangements for use of proprietary software. […]
Changes to AusIndustry R&D Application introduced October 2013 30 April 2015 is the R&D Tax Incentive lodgement deadline for companies wishing to claim eligible R&D conducted during the year ended 30 June 2014. Companies who submitted their 2013 claims near last year’s deadline should be aware of changes to the registration application introduced in October 2013. This includes the additional requirement for: Details of the new knowledge intended to be produced by the core activities and how this is different from […]