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Strike Energy (ASX:STX) Announces R&D Tax Dispute Settlement and Pursuit of Subsequent Claims
September 14th, 2020Strike 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 […]
Moreton Resources (Subject Of R&D Tax Disputes) Enters Voluntary Administration
June 16th, 2020Moreton 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 […]
Argent Minerals Settles R&D Tax Dispute Allowing Some Of Previously Disputed Claim To Be Deemed Eligible
May 26th, 2020Argent 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 […]
Northern Minerals Announce That AusIndustry Have Set Aside Previous Finding That R&D Activities Were Not Eligible
February 25th, 2020In May 2019, Northern Minerals (ASX: NTU) announced that the company had received notice of a finding that AusIndustry had deemed that the activities registered in the FY17 and FY18 periods related to activities that were “ineligible R&D activities”, which would not be eligible for the R&D tax offset in those income years. In June 2019, Northern Minerals subsequently announced that the company would exercise its review rights in relation to AusIndustry’s decision that the Company’s FY17 and FY18 R&D […]
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News & Research
News & Research
News & ResearchIndependent Review of TPB Makes Reference to R&D Tax Practitioners
Regulation of the tax profession is the responsibility of the Tax Practitioners Board (TPB) which was formed following the Tax Agent Services Act 2009 (TASA)’s introduction. An independent review into the effectiveness of the TPB has been undertaken over recent […]
Commentary in Tax Institute’s TaxVine Journal calls for Stability to R&D Tax Incentive
This week’s TaxVine Journal (the weekly publication of The Tax Institute) featured some commentary from Mariana von Lucken of HLB Mann Hudd, supportive of the Government’s budget announcements and echoing Swanson Reed’s previous calls for stability to the R&D Tax […]
