Mining and Oil and Gas

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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Strike Energy (ASX:STX) Announces R&D Tax Dispute Settlement and Pursuit of Subsequent Claims

September 14th, 2020

Strike Energy had previously disclosed R&D Tax Offsets in dispute with Innovation & Science Australia (ISA) in respect of the FY16 period of $6,333,638, which also had subsequent implications on R&D Tax Offsets in the FY17 period of $3,697,000. Announcements to the ASX in recent months indicated that: The matter was currently before the Administrative Appeals Tribunal (AAT); The company was confident in their position and the eligibility of their claims; Strike Energy has since announced to the ASX on […]

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Moreton Resources (Subject Of R&D Tax Disputes) Enters Voluntary Administration

June 16th, 2020

Moreton Resources Ltd announced to the ASX on 10 June that the company has appointed administrators. Moreton Resources Ltd had become well publicised for its ongoing R&D tax disputes with Innovation and Science Australia: A decision by the AAT in September 2018 found in favour of Innovation and Science Australia, concluding that registered R&D Activities were not R&D Activities in accordance with the legislative criteria; A subsequent appeal to the federal court in July 2019, found in favour of Moreton […]

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Argent Minerals Settles R&D Tax Dispute Allowing Some Of Previously Disputed Claim To Be Deemed Eligible

May 26th, 2020

Argent Minerals Limited has previously disclosed a liability in the company’s 2019 annual report for “R&D Claims repayable” of approximately $1.4M. This liability was in respect of R&D Tax Offsets for the FY16 and FY17 periods that AusIndustry had found relate to ineligible activities. Argent Minerals Limited had also reported that the company remained of the view that its R&D activities were eligible, and intended to pursue dispute of the adverse finding. The company has announced to the ASX over the past week […]

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