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Senate Economics Committee Review Into Proposed R&D Tax Incentive Changes
January 31st, 2019The Senate Economics Legislation Committee conducted a public hearing in Melbourne on 30 January which heard submissions from various stakeholders including: Cochlear Ltd; Brickworks Ltd; CSL; Dulux Group; The AFR has reported that representatives from these groups have consistently argued that continual change to R&D Tax Incentive introduces uncertainty and reduces Australia’s relative attractiveness as an investment location. In fact, R&D spending in Australia has fallen by over $2 billion since 2013-14. The proposed intensity threshold for companies with annual turnover […]
StartupAUS Calls for Clearer Support for Software R&D Activities
December 6th, 2018StartupAUS, Australia’s national startup advocacy group has released a report titled Crossroads – Fifth Anniversary edition. Data from the company has found that almost 90 percent of startups rate the R&D tax incentive as “very important” or “critical” to their business’s success. Within the report, they have called for greater assurance for software companies accessing the R&D Tax Incentive, and put forward proposals including: A moratorium on audits for software claims; A legislative amendment to the R&D Tax Incentive, or […]
R&D Tax Incentive Crackdown For Software Claims
December 4th, 2018Reports have emerged in the media recently of software development companies that have been subject to adverse R&D Tax Compliance proceedings: Airtasker hit by R&D incentive tax crackdown that threatens tech firms Whilst the benefits available under the R&D Tax Incentive are significant, these reports affirm the need to ensure R&D claims are completed with diligence, and in accordance with the current reporting expectations. Recent publications from ATO and AusIndustry on software development activities have highlighted current regulatory compliance focuses, […]
Moreton Resources’ R&D Activities Affirmed As Ineligible
September 14th, 2018On 12 September 2018, Moreton Resources Ltd announced on the ASX that the Administrative Appeals Tribunal (AAT) recently affirmed a decision by Innovation and Science Australia (ISA) that registered R&D activities were not eligible. This was decided on the basis that underground coal gasification is a known and proven technology and is therefore not considered a research and development activity, as defined by the 1997 Income Tax Assessment Act. The AAT have issued an amended assessment for $9M. Moreton Resources […]
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News & Research
News & ResearchEconomics Legislation Committee recommends deferral of proposed changes to R&D
The Senate Economics Legislation Committee has today handed down their recommendation on proposed changes to the R&D Tax Incentive which have followed recent consultations with the industry. The committee which is made up of members from varying sides of politics […]
Senate Economics Committee Review Into Proposed R&D Tax Incentive Changes
The Senate Economics Legislation Committee conducted a public hearing in Melbourne on 30 January which heard submissions from various stakeholders including: Cochlear Ltd; Brickworks Ltd; CSL; Dulux Group; The AFR has reported that representatives from these groups have consistently argued […]
