R&D Tax Credit

StartupAUS Calls for Clearer Support for Software R&D Activities

December 6th, 2018

StartupAUS, Australia’s national startup advocacy group has released a report titled Crossroads – Fifth Anniversary edition. Data from the company has found that almost 90 percent of startups rate the R&D tax incentive as “very important” or “critical” to their business’s success. Within the report, they have called for greater assurance for software companies accessing the R&D Tax Incentive, and put forward proposals including: A moratorium on audits for software claims; A legislative amendment to the R&D Tax Incentive, or […]

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R&D Tax Incentive Crackdown For Software Claims

December 4th, 2018

Reports have emerged in the media recently of software development companies that have been subject to adverse R&D Tax Compliance proceedings: Airtasker hit by R&D incentive tax crackdown that threatens tech firms Whilst the benefits available under the R&D Tax Incentive are significant, these reports affirm the need to ensure R&D claims are completed with diligence, and in accordance with the current reporting expectations. Recent publications from ATO and AusIndustry on software development activities have highlighted current regulatory compliance focuses, […]

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Draft Legislation Released for R&D Tax Incentive

July 3rd, 2018

The Government announced on 8 May 2018 that the Research and Development Tax Incentive (R&DTI) would be reformed and that changes would apply from 1 July 2018. Draft legislation has been released regarding amendments to the R&DTI. Stakeholder feedback is encouraged and responses can be submitted until 26 July 2018. Changes to the Bill include: Increasing the R&D expenditure threshold from $100 to $150 million; Introducing a $4 million cap on annual cash refunds (the cap excludes clinical trials). Refunds over […]

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R&D Tax Incentive Changes Announced in 2018-19 Budget

May 9th, 2018

In response to the recommendations in the ‘2016 Review of the R&D Tax incentive’ the government has announced proposed R&D Tax Incentive changes within the 2018-19 Federal Budget released yesterday, 8 May 2018. The changes take on board some recommendations from ISA’s previous review of the programme, along with some of the government’s own savings and integrity measures. The R&D Tax Offset rate will change, commencing for years on or after 1 July 2018. For companies claiming the refundable offset with […]

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