Industry Specific Issues

Lobbying for Enhancement to R&D Tax Incentive for Software Development Activity

February 1st, 2021

In September 2019, the Senate resolved to establish a Select Committee on Financial Technology and Regulatory Technology to inquire on a range of matters including “the effectiveness of current initiatives in promoting a positive environment for FinTech and RegTech start-ups”. This committee signifies that the government considers Fintech to be an industry of strategic importance. As part of the inquiry, the Committee has taken submissions, and a number of key stakeholders have raised the R&D Tax Incentive, which is obviously […]

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Monadelphous Successfully Challenges R&D Tax Dispute Following Conclusion of Internal Review

January 11th, 2021

One of the most high profile R&D Tax disputes has been that of engineering contractor Monadelphous. In August 2019 Monadelphous recognised a $7 Million provision relating to repayment of R&D Claims for the FY15 and FY16 periods. The provision indicated that the underlying disputed R&D Activities may have R&D Expenditure of around $70 to $80 Million, and followed a previous announcement in May 2019 that the company had received notices of amended assessments from the ATO relating to findings by […]

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Australia’s R&D Tax Incentive and Clinical Sector To Be Showcased During JP Morgan Week

December 7th, 2020

AusBiotech’s virtual showcase during JP Morgan week in January 2021 will seek to highlight the advantages of partnering with Australian life science companies and utilising the R&D Tax Incentive. Australia has become an attractive location for the conduct of clinical trials in recent years, based on local capability and infrastructure offering companies the ability to attain high-quality clinical data. Australia’s 43.5% Refundable R&D Tax Offset has further made the country an attractive destination for the conduct of clinical research. Ausbiotech’s […]

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Software development R&D activities affirmed as ineligible by AAT in Royal Wins Pty Ltd Vs Innovation and Science Australia [2020]

November 16th, 2020

A recent decision in the AAT has affirmed a previous decision by Innovation and Science Australia (AusIndustry) finding that Activities registered under the R&D Tax Incentive were not in accordance with the legislative requirements. Royal Wins Pty Ltd and Innovation and Science Australia [2020] AATA 4320 (28 October 2020) was a dispute in respect of a registration in the FY16 and FY17 periods for development of an Integrated Hybrid Gaming Algorithm and Platform. The stated objective of the project was […]

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