Industry Specific Issues

Monadelphous recognises $7 Million provision for disputed R&D Tax Claims

August 21st, 2019

Engineering contractor Monadelphous has released its FY19 annual report this week, and within recognised a $7 Million provision relating to repayment of R&D Claims for the FY15 and FY16 periods. The provision would indicate that the underlying disputed R&D Activities may have R&D Expenditure of around $70 to $80 Million. Monadelphous had previously reported to the ASX in May 2019 that the company had received notices of amended assessments from the ATO relating to findings by Innovation Australia that R&D Activities […]

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Cochlear calls for stability to R&D Tax Policy with release of FY19 Results

August 19th, 2019

In comments published in The Australian coinciding with the release of their FY19 financial report, Cochlear has called on the Australian government to adapt policies to ensure Australia remains competitive in attracting global investment in R&D Activity.   CEO Dig Howitt noted specifically that the R&D Tax Incentive must be subject to a stable policy platform to address Australia’s declining R&D Expenditure when quantified as a proportion of GDP.   Dig Howitt had previously mentioned at the AFR Innovation Summit that […]

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ASX Listed Software Company Receive AusIndustry Finding That R&D Activities Are Not Eligible

July 30th, 2019

XPED LIMITED has announced to the ASX that the company has received notice from AusIndustry of a finding assessing certain registered activities as ineligible under the requirements of the R&D Tax Incentive for the FY18 period. XPED LIMITED had previously announced in the company’s interim report for the half year ended 31 December 2018 that a Refundable R&D offset of $1,634,607 was received in respect of the Technology Development segment of the business, which is focused on development of Internet […]

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Moreton Resources Limited v Innovation and Science Australia [2019] FCAFC

July 25th, 2019

This matter has been appealed to the Federal Court. Introduction: A recent decision has been handed down by the Full Federal Court in the case Moreton Resources Limited v Innovation and Science Australia [2019] FCAFC 120. The decision is still subject to appeal however shows clarification in disputes with existing R&D technology at new sites. Background: A previous AAT decision in September 2018 had determined that R&D Activities registered by Moreton Resources Limited were not R&D Activities in accordance with […]

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