Tech leaders Google, Facebook, Microsoft, Amazon and IBM have joined forces to form the Partnership on Artificial Intelligence to Benefit People and Society (Partnership on AI) announced in September. Just as the name suggests the organization will carry out research and development on artificial intelligence with the fundamental purpose of identifying potential AI challenges for people and society. The partnership hopes that their discoveries will effectively self-regulate the industry independent of government intervention. Why […]
While tax credits can help you free up cash flow and additional resources in the future, they often don’t help you in the here and now. In fact, many companies feel they have to forgo the complicated application process just to keep their businesses running smoothly. However, Swanson Reed, a leading specialist in R&D tax credits, has developed a referral system to help companies apply for their entitlements and still have enough money to keep up their good work. We […]
Businesses that develop a research and development (R&D) strategy are more likely to grow and succeed. Why is this? In performing R&D, companies must internally review their processes and technologies in order to identify issues. With these weaknesses targeted, both the products and services offered can be improved upon. Innovation enables productivity and customer satisfaction to increase thereby strengthening the company’s competitive advantage. Developing a Strategy Each strategy is unique, depending on […]
The Omnibus Bill passed both houses of parliament last week and included $6.5 billion of savings measures. Included within these measures was a uniform 1.5% reduction in the R&D Tax Offset rates applying for income years starting on or after 1 July 2016. Whilst returning the budget to surplus is an important task for the government, this reduction is disappointing as the R&D Tax Incentive is the primary mechanism for inducing corporate investment in R&D Activity. The stability of the […]