Upping Investment Funding MLA (Meat & Livestock Australia) released plans to increase investment funding in R&D by about AU$100,000 more than the previous year in support of the innovation and development of the grain-fed and grass-fed beef industry sectors. Of this AU$12.7 million, approximately AU$7 million will be focused on research and development (R&D) while the remaining funds will put towards marketing campaigns for both grass and grain fed stocks. Competitive Advantage In Global Meat News, the point was made that as […]
During the 2016 Australian Financial Review innovation summit this past week, Dr. Alan Finkel Australia’s chief scientist, spoke to the imbalance of government spending on innovation. Business Insider quoted Dr. Finkel saying, “If science turns money into knowledge – then innovation turns knowledge back into money, and generally a lot more money than the taxpayers put in.” While referring to the potential gains of innovation investment from the government, the Doctor proceeded to share a shocking statistic that industry leaders […]
July Brings New Tax Incentives As of July this year, young companies focused on innovation have greater hope for expansion. To elaborate, the new tax incentives for Early Stage Innovation Companies (ESICs) provide a maximum 20% offset for qualifying expenses capping at $200,000 each year for the investor and affiliates. The measures are ultimately a triumph for the Australian startup ecosystem and will aid in increasing the amount of capital available to Australian startups. It is important to note that […]
Are you making the most of the tax incentives available to you as a business owner? Grants and assistance opportunities, such as the Research and Development (R&D) tax incentive, are available to those involved in eligible R&D activities as a way to offset some of the costs involved in running your business. At Swanson Reed, we are a specialised team of R&D tax advisors who help companies claim the R&D tax incentive. Are You Eligible for the R&D Tax Incentive? […]