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R&D Tax Credit

Swanson Reed: Registered Tax Agent obligations and keeping clients informed

June 12th, 2025

SR Tax Services Pty Ltd (trading as Swanson Reed) is a registered tax agent (Registration number 03718008).   The Tax Practitioners Board (TPB) is the authority responsible for regulating Australia’s tax agents.   The Government package of reforms to strengthen the integrity of Australia’s tax system has presented additional compliance and disclosure requirements for tax agents which apply to Swanson Reed from July 2025. As part of these reforms, Swanson Reed has an obligation to keep parties informed on a […]

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AiGroup Warns of Manufacturing Recession as New Industry Minister Tim Ayres Commences

May 20th, 2025

A recent article on InnovationAus.com has covered Australian Industry Group’s (AiGroup) latest Key Industry Indicators numbers, showing that the economy slowed across 2024, and is now in the longest period of low growth since the 1991 recession. AiGroup’s Key Industry Indicators data reveals that the broader economy has seen its longest period of slow growth since the 1991 recession, but manufacturing has been hit hardest, entering a recession, with output contracting at a 1.7% per annum rate in the second […]

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30 April 2025 Statutory Deadline for FY24 R&D Claims

April 28th, 2025

The deadline for FY24 R&D Registrations is on Wednesday, 30 April 2025. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2024 (companies that have a Standard YE for tax) who are yet to do so should note that the Registration Deadline is 10 Months after YE, and is 30 APRIL 2025. Extensions of time may be available in certain situations, and extension applications lodged BEFORE the original deadline are viewed much more favorably. However recent changes place a limit […]

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March 2025 Federal Budget Update: No material R&D Tax Incentive changes, Strategic R&D Review still underway

March 26th, 2025

Due to the timing of the upcoming Federal election, the 2025 Federal budget was held on on Tuesday 25 March 2025, which is earlier than the traditional May timeslot. Going into the budget, it was unexpected that there would be R&D Tax Incentive changes announced given that: There was a material change announced only recently in the December 2024 MYEFO, which announced exclusion of R&D activities related to gambling and tobacco from eligibility for income years starting on or after 1 July 2025; The Government […]

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