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Imdex Ltd posts strong FY21 result leveraging R&D Investment
August 30th, 2021Imdex Limited (ASX: IMD) is a WA-based company providing technology and equipment for the mining industry. The company offers a range of products and services, including: Drilling optimisation products; Rock knowledge sensors; Real time data and analytics solutions; Imdex Limited’s FY21 results were well received by the ASX, and concludes a year in which the company’s share price has almost doubled. An emphasis within the company’s results presentation released in August was the company’s R&D investment during the FY21 period. The […]
Government Discussion Paper and Consultation on Patent Box for Medical and Biotechnology Sectors
July 19th, 2021In the May federal budget, the Australian Government announced that it will introduce a patent box for eligible income associated with new patents in the medical and biotechnology sectors. The patent box will apply to companies for income years commencing on or after 1 July 2022, and for new Australian patents since budget night. The aim of such a policy is to encourage companies to base their medical and biotechnology R&D activity in Australia and to retain associated patent […]
ATO Announces That “Collaborative Workshop Will Be Conducted Shortly” In Respect Of Software R&D Activity
April 12th, 2021The 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 […]
AFR Reports Top Tech Companies Approach ATO Seeking a Meeting to Discuss Eligibility of Software R&D Activity
March 15th, 2021The 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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News & Research
News & Research
News & ResearchIndustry Minister Resignation and Appointment of Caretaker
Over the weekend, the Government announced the resignation of Christian Porter from the industry portfolio after approximately six months in the role. Energy Minister Angus Taylor will serve as acting Industry Minister for the time being. The industry portfolio has […]
Promoters of Tax Avoidance Schemes Remain a Target of ATO’s Tax Avoidance Taskforce
The ATO recently released a report titled Tax Avoidance Taskforce highlights 2020-21. The report has highlighted that: Activity over the past year achieved favourable promoter penalty outcomes in two Federal Court applications following investigations by the taskforce’s Promoters and Tax […]
