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Industry Specific Issues

ATO Announces That “Collaborative Workshop Will Be Conducted Shortly” In Respect Of Software R&D Activity

April 12th, 2021

The AFR reported earlier in the year that leading technology companies (including Atlassian, Airtasker, Canva and Deputy, among others) had sent a letter to the ATO offering to convene a workshop with the ATO to “improve the understanding of software innovation in the tax office and, conversely, address any concerns the ATO has about software related claims.” Under the “matters under consultation” section of the ATO website, it is now noted that: A collaborative workshop will be conducted shortly; The […]

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AFR Reports Top Tech Companies Approach ATO Seeking a Meeting to Discuss Eligibility of Software R&D Activity

March 15th, 2021

The AFR has reported this week that leading technology companies (including Atlassian, Airtasker, Canva and Deputy, among others) have sent a letter to commissioner of taxation, Chris Jordan. The letter reportedly includes an offer to convene a workshop with the ATO to “improve the understanding of software innovation in the tax office and, conversely, address any concerns the ATO has about software related claims”. This letter follows concerns around the eligibility of software development Activity under the R&D Tax Incentive […]

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Lobbying for Enhancement to R&D Tax Incentive for Software Development Activity

February 1st, 2021

In September 2019, the Senate resolved to establish a Select Committee on Financial Technology and Regulatory Technology to inquire on a range of matters including “the effectiveness of current initiatives in promoting a positive environment for FinTech and RegTech start-ups”. This committee signifies that the government considers Fintech to be an industry of strategic importance. As part of the inquiry, the Committee has taken submissions, and a number of key stakeholders have raised the R&D Tax Incentive, which is obviously […]

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Monadelphous Successfully Challenges R&D Tax Dispute Following Conclusion of Internal Review

January 11th, 2021

One of the most high profile R&D Tax disputes has been that of engineering contractor Monadelphous. In August 2019 Monadelphous recognised a $7 Million provision relating to repayment of R&D Claims for the FY15 and FY16 periods. The provision indicated that the underlying disputed R&D Activities may have R&D Expenditure of around $70 to $80 Million, and followed a previous announcement in May 2019 that the company had received notices of amended assessments from the ATO relating to findings by […]

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