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Mining and Oil and Gas

LAKES OIL NL Provides Update on R&D Tax Activities Found Ineligible

September 25th, 2023

A recent AAT Decision dated  26 April 2023 (LAKES OIL NL and INNOVATION AND SCIENCE AUSTRALIA (Taxation) )  found a company’s registered activities were not eligible under the R&D Tax Incentive. The project under scrutiny in the case was entitled “Project 1 – LAK2006 ‘Hydraulic Fracturing Technology for Gippsland Tight Gas’”. The dispute was focused on a registration in the FY14 and FY15 period. During the case INNOVATION AND SCIENCE AUSTRALIA contended that: the activities undertaken were not experimental activities; almost all […]

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New AAT Case (LAKES OIL) finds Hydraulic Fracturing Activities NOT eligible under the R&D Tax Incentive

May 8th, 2023

A recent AAT Decision dated 26 April 2023 (LAKES OIL NL and INNOVATION AND SCIENCE AUSTRALIA (Taxation) ) has found a company’s registered activities were not eligible under the R&D Tax Incentive. The project under scrutiny in the case is entitled “Project 1 – LAK2006 ‘Hydraulic Fracturing Technology for Gippsland Tight Gas’”. The dispute was focused on a registration in the FY14 and FY15 period. During the case INNOVATION AND SCIENCE AUSTRALIA contended that: the activities undertaken were not experimental […]

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Updated AAT Decision (Moreton Resources Ltd V IISA) Finds Some Disputed Activities Were R&D Activities

November 25th, 2022

Last decade, there were a number of R&D Tax Disputes heard by the courts with the majority of decisions seeming to find in favour of the regulators that claims (most of which were large) were not eligible. The original Federal Court decision in 2019 regarding Moreton Resources Ltd and Industry Innovation and Science Australia was big news at the time, since it represented one of the few matters where a decision was ruled even partially in favour of a taxpayer. […]

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Imdex Ltd posts strong FY21 result leveraging R&D Investment

August 30th, 2021

Imdex 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 […]

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