Industry Specific Issues

Is Aus R&D Incentive holding back ICT startups?

March 11th, 2014

A recent report by the Australian Information Industry Association (AIIA) has warned of the risks regarding innovation in the Australian ICT sector if the government fails to foster growth in more technology startups. In the AIIA’s “SmartICT 2014: A vision for sustained national prosperity” report released 4 March 2014, the AIIA highlighted Australia’s tax rules, particularly in relation to the R&D Tax Incentive, as being a major problem holding back the nation’s ICT industry. The AIIA report stated “Requirements in […]

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R&D Tax Incentive Deadline is Drawing Near

February 10th, 2014

Companies with a June year end that wish to claim the R&D Tax Incentive for activities conducted in the 2014 financial year need to register before 30 April 2015 to be eligible to claim. The R&D Tax Incentive can provide generous support in offsetting some of the costs of R&D to help your company undertake R&D activities and develop new products, services and processes. There are a few misconceptions surrounding the R&D Tax Incentive that may prevent some companies from […]

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Local Biotech firm recieves $8.8 million R&D tax offset

November 4th, 2013

Alchemia (ASX:ACL) has received an additional $8.8 million rebate as part of the R&D Tax Incentive Scheme. The new rebate for FY13 brings the total funds Alchemia has received under the R&D incentive scheme over the last 12 months to over $13 million. In December, Alchemia won approval from AusIndustry to apply for incentive credits for non-Australian R&D conducted by business unit Alchemia Oncology. In a filing, the company said its FY13 rebate includes claims from both overseas and domestic R&D, […]

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Review R&D Case Law: substantiating an experiment – Compliance burden or insightful planning?

October 24th, 2013

Changes to the definition of eligible activities; uncertainties around the definition of new terms, such as dominant purpose; and recent decisions handed down in the Administrative Appeals Tribunal (AAT) regarding substantiation have all contributed to additional uncertainty for taxpayers during the transition to the new R&D Tax Incentive. In the AAT, a number of decisions have been handed down, deciding against taxpayers on the basis that the documents provided were insufficient or inappropriate for substantiating the R&D claims. While the […]

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