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R&D Tax Credit
Industry Minister’s Comments to AFR regarding application of R&D Tax Incentive to Software
August 6th, 2019The AFR has reported that Industry Minister Karen Andrews (whose responsibility includes oversight of the R&D Tax Incentive) recently met with representatives of high profile Australian start ups and parties from venture capital firms. Attendees at the meeting included personnel from Airtasker, who had a previously lodged R&D claim found to be ineligible by regulators, which had been previously highly publicised in the media. Ms Andrews was quoted within the article as: being concerned by the dropping level of business […]
Success of Australian Software Companies Linked to Investment in R&D
June 10th, 2019A recent article published by AFR weekend has highlighted how investment in R&D has played a crucial role in the success of two growing local companies: Atlassian and Xero. Despite significantly growing revenues, both Atlassian and Xero have maintained a significant investment in R&D and product developments (figures quoted in the AFR article are R&D Spending of 36% and 31% of revenue respectively). Both companies have enjoyed continued success and significant rises in the value of their shares over recent […]
REAL ENERGY CORPORATION – R&D Activities Found to be Ineligible Following AusIndustry Review
May 27th, 2019Real Energy Corporation Limited (ASX : RLE) have announced to the ASX that the company has received notice that AusIndustry has found the company’s R&D Activities for the FY14, FY15 and FY16 years to be ineligible. During the period of the last three years, Real Energy Corporation Limited has been paid around $7.2 million in R&D Incentives and potentially unpaid R&D claims of around $6.5 million. The R&D activities related to development of gas extraction processes and in the […]
Northern Minerals Limited R&D Claim Update
May 20th, 2019Northern Minerals Limited (ASX: NTU) have reported to the ASX that they have received notices that the company’s registrations for its research and development tax offset claims submitted for FY17 and FY18 have been considered ineligible by Ausindustry. Irrespective of whether NTU will exercise its review rights under the IR&D Act, Northern Minerals Limited will be required to repay the ATO the R&D offsets paid up to date. Northern Minerals Limited have previously reported receipt of R&D Tax Offsets […]
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News & Research
News & Research
News & ResearchMonadelphous recognises $7 Million provision for disputed R&D Tax Claims
Engineering contractor Monadelphous has released its FY19 annual report this week, and within recognised a $7 Million provision relating to repayment of R&D Claims for the FY15 and FY16 periods. The provision would indicate that the underlying disputed R&D Activities may […]
Cochlear calls for stability to R&D Tax Policy with release of FY19 Results
In comments published in The Australian coinciding with the release of their FY19 financial report, Cochlear has called on the Australian government to adapt policies to ensure Australia remains competitive in attracting global investment in R&D Activity. CEO Dig […]
