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ATO Announces That “Collaborative Workshop Will Be Conducted Shortly” In Respect Of Software R&D Activity
April 12th, 2021The AFR reported earlier in the year that leading technology companies (including Atlassian, Airtasker, Canva and Deputy, among others) had sent a letter to the ATO offering to convene a workshop with the ATO to “improve the understanding of software innovation in the tax office and, conversely, address any concerns the ATO has about software related claims.” Under the “matters under consultation” section of the ATO website, it is now noted that: A collaborative workshop will be conducted shortly; The […]
AFR Reports Top Tech Companies Approach ATO Seeking a Meeting to Discuss Eligibility of Software R&D Activity
March 15th, 2021The AFR has reported this week that leading technology companies (including Atlassian, Airtasker, Canva and Deputy, among others) have sent a letter to commissioner of taxation, Chris Jordan. The letter reportedly includes an offer to convene a workshop with the ATO to “improve the understanding of software innovation in the tax office and, conversely, address any concerns the ATO has about software related claims”. This letter follows concerns around the eligibility of software development Activity under the R&D Tax Incentive […]
Lobbying for Enhancement to R&D Tax Incentive for Software Development Activity
February 1st, 2021In 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 […]
Software development R&D activities affirmed as ineligible by AAT in Royal Wins Pty Ltd Vs Innovation and Science Australia [2020]
November 16th, 2020A 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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News & Research
News & Research
News & ResearchFederal Budget 11 May 2021 – R&D Tax Incentive Update
For multiple years leading into the prior federal budget in 2020, the Government attempted to pass controversial measures aimed at reducing the cost of the R&D Tax Incentive, which had stalled in the senate and were not legislated. When the […]
Federal Budget 2021 – R&D Tax Incentive Not Likely to be a Focus…(Hopefully)
In the belated federal Budget handed down in October 2020 (delayed due to COVID), reforms to the R&D Tax Incentive were a centrepiece. Leading up to the 2020 budget, the government was proposing substantial changes to the R&D Tax Incentive […]
