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R&D Tax Credit

Federal Budget 2021 – R&D Tax Incentive Not Likely to be a Focus…(Hopefully)

May 7th, 2021

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 which were aimed at reducing the cost of the programme, but that had not yet been legislated as law. When the 2020 budget was announced, the government largely backed away from the unworkable changes in its R&D Tax Incentive reform […]

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Senate Committee Calls for Quarterly RDTI Payments

May 4th, 2021

InnovationAus has reported that a government-led Senate committee chaired by Liberal Senator Andrew Bragg has called for R&D Tax Offsets to be paid quarterly, and for a new standalone scheme for software-related claims to be considered. The report included notable quotes: “The committee is recommending that different assessment methodologies be allowed under the RDTI scheme, and that consideration also be given to a standalone scheme for software development; “The timing of RDTI payments was also raised with the committee, with […]

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AFR reports that government will back down on R&D Tax budget reforms

October 2nd, 2020

In December 2019, the government re-introduced a bill to reform the R&D Tax Incentive. This bill was a slightly modified version of a previous reform bill (Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018), which did not pass through the Senate at that time. A Senate Economics Legislation Committee recommended in February 2019 that the initial bill should be deferred from consideration until further analysis of the bill’s impact […]

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Argent Minerals (ASX:ARD) Announces Details of R&D Tax Dispute Settlement and Progression of Further Claims

August 17th, 2020

Argent Minerals Limited has previously disclosed a liability in the company’s 2019 annual report for “R&D Claims repayable” of approximately $1.4M. This liability was in respect of R&D Tax Offsets for the FY16 and FY17 periods that AusIndustry had found related to ineligible activities. Argent Minerals Limited had, at the time reported that the company remained of the view that its R&D activities were eligible, and intended to pursue a dispute of the adverse finding. In May 2020, the company […]

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