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Industry Specific Issues

AFR reports high profile ASX listed Software Company Subject to ATO Review of R&D Tax Offsets

October 18th, 2023

The AFR has reported in late September 2023, that officials from the Australian Taxation Office visited a high profile ASX listed software development company last month as part of inquiries about whether the group inappropriately claimed R&D Tax Offsets.   The article seems to suggest that the issue may relate to overclaiming of expenditure on R&D Activities conducted overseas (as opposed to whether the expenditure or activity meet the general R&D Tax Incentive criteria).   Under the R&D Tax Incentive, companies […]

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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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Interaction between R&D Tax Incentive and Small Business Technology Investment Boost

September 18th, 2023

Under the recently enacted small business technology investment boost, small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction to support their digital operations and digitise their operations. The boost applies to eligible expenditure incurred between 7:30 pm AEDT on 29 March 2022 and 30 June 2023. The boost is for business expenses and depreciating assets and is capped at $100,000 of expenditure per income year. You can receive a […]

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Company Involved in R&D Tax Dispute over Software Development Activity Now in Liquidation

August 7th, 2023

Royal Wins Pty Ltd and Innovation and Science Australia [2020] was an AAT case where it was found that the company’s software development activities did not meet the requirements under the R&D Tax Incentive. The claims were substantial and found by the AAT to not be suitably substantiated. The AFR has recently reported that the company is now in liquidation. The AFR article notes: “Royal Wins, an Australian mobile developer of wagering and betting games which is listed in the US and […]

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