Industry Specific Issues

IR&D Board v IMT Ltd [2001] FCA 85

March 27th, 2014

The respondent (IMT) brings a motion seeking an order that the matter be remitted to the Administrative Appeals Tribunal (AAT), as originally constituted (subject to the availability of the relevant members) to be determined according to law without the hearing of further evidence other than as determined by the AAT. Background: The motion arises as the consequence of the lodgement of a notice of appeal by the Industry Research and Development (IR&D) Board from the decision of the AAT on […]

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Tier Toys Limited v Commissioner of Taxation [2014] AATA 156

March 26th, 2014

The AAT has upheld the Commissioner’s decision to reduce a taxpayer’s claim for the research and development (R&D) tax offset because the latter could not prove that the disputed expenditure was incurred. Facts The taxpayer was incorporated in 2006. It registered its R&D project for the 2006/07 income tax year with AusIndustry. The R&D activities involved manufacturing a children’s multi-layered “stacker” toy using an experimental and novel injection moulding process. The taxpayer claimed expenditure that included fees for personal services […]

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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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