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Technology and Media Communications

AusIndustry Webinar – Software Activities

March 25th, 2024

AusIndustry have announced that they will be hosting a webinar on Wednesday, 27 March, where subject matter experts will answer questions related to R&D Claims for software development, including: eligibility requirements; activity descriptions; and record keeping. Registration information is available on the AusIndustry website. Please get in touch with our office if you require assistance, would like to speak to someone about a potential claim, or check out our website for more information.

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Altium Affirmed as One of Australia’s Greatest Ever Technology Companies on $9b Takeover

February 20th, 2024

Altium Ltd has origins in Hobart in the 1980’s, and sells software to help people design printed circuit boards. Following an IPO, the stock at one stage reached a low of $0.08, however, in testament to the company’s success, the company has entered a scheme of implementation agreement in February 2024 for Japan’s Renesas Electronics to acquire the company at $68.50 a share (equating to an enterprise value of around $9bn). Throughout a surge in the shareprice of tech stocks […]

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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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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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