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R&D Tax Credit

ATO Release Decision Impact Statement on Auctus Resources Pty Ltd Case (Administrative Recovery of R&D Offset )

October 18th, 2021

Background On 12 October 2021 the ATO issued a Decision Impact Statement relating to the decision handed down by the Full Federal Court in Auctus Resources Pty Ltd v Commissioner of Taxation [2020] FCA 1096. The case involved a ‘self-assessed’ claim for an R&D tax offset refund of $2,269,336 made by Auctus Resources Pty Ltd (Auctus Resources) for the 2012-13 financial year. The refund payment was made by the Commissioner of Taxation (the Commissioner) to Auctus Resources using an automated […]

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Australian Based Immunetep Ltd (ASX:IMM) receives $3.4M AUD in French R&D Tax Incentives

September 30th, 2021

ASX listed, Sydney based company Immunetep Ltd recently announced that it has received a €2,126,617 (around A$3,400,000) payment in cash from the French Government under its Crédit d’Impôt Recherche scheme (CIR). A similar magnitude payment was received in the previous year. The payment relates to activity the company is conducting in Paris to develop its novel Immunotherapy treatments. Immunetep Ltd also registers activities under the Australian R&D Tax Incentive and has previously reported the following receipts: YE 30 June 2018 […]

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Industry Minister Resignation and Appointment of Caretaker

September 23rd, 2021

Over the weekend, the Government announced the resignation of Christian Porter from the industry portfolio after approximately six months in the role. Energy Minister Angus Taylor will serve as acting Industry Minister for the time being. The industry portfolio has responsibility for the R&D Tax Incentive, and the programme is one of the largest budgetary expense items within the portfolio. Given the importance of the portfolio to Australia’s economy, we call on the Government to appoint a dedicated Industry Minister […]

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Swanson Reed in InnovationAus Article on state of R&D Tax Compliance

August 26th, 2021

InnovationAus has this week published an article including comments from Swanson Reed regarding the state of R&D tax compliance, particularly for projects involving software development activity. The article comes following a turbulent period in the R&D Tax Incentive, including: Multiple proposed and eventually passed amendments to the legislation underpinning the R&D Tax Incentive; A widely reported crackdown on claims involving software development during the period 2017 to 2019. Airtasker’s R&D tax dispute for FY15 and FY16 being the most publicised […]

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