Various laws determine the manner in which a company’s assets are distributed to employees and creditors in the event of an insolvency event. In a decision handed down by the New South Wales Supreme Court in 2022, the order of priority of payments in a winding up where employee debts and secured creditor claims exist was considered. The matter was Spitfire Corporation Limited (in liquidation) and Aspirio Pty Ltd (in liquidation) [2022] NSWSC 340. The court considered whether Refundable R&D […]
The QLD government has announced that round 11 of the Ignite Ideas funding is available to commercialise highly innovative and new products or services that are at minimum viable product stage or beyond. The Ignite Ideas Fund is designed to support Queensland based small to medium businesses that have high-growth potential to undertake commercialisation projects that will: strengthen key industries in Queensland diversify the Queensland economy compete in domestic and global markets engage and/or benefit regional Queensland create new jobs, […]
ASX Listed, Sydney based company Immutep Ltd (ASX:IMM) has recently announced on 23 September 2022 that it has received a €1,804,341 (around A$2,693,000) payment in cash from the French Government under its Crédit d’Impôt Recherche scheme (CIR). A similar magnitude payment was received in the previous years. The payment relates to activity the company is conducting in Paris to develop its novel Immunotherapy treatments. Immutep Ltd also registers activities under the Australian R&D Tax Incentive. Whilst there is likely to […]
Companies planning registration of R&D activities in the FY22 period (for the YE 30 June 2022) should be mindful of the following before the upcoming end of the financial year: Findings for overseas activities: Companies seeking to claim expenditure for overseas activity in their FY22 R&D claims must apply to claim these costs by lodging an Overseas Finding Application before the end of the financial year (i.e. 30 June). In addition to general eligibility criteria, there are specific and extensive […]