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Federal Government Releases Australia’s First National Quantum Strategy
May 5th, 2023On Wednesday 3 May, the federal government released Australia’s first National Quantum Strategy. Australian investment in quantum technologies is urgently needed, says Industry Minister Ed Husic, Australia led the world in offering postgraduate quantum physics qualifications 30 years ago, and today has more than 20 world-leading quantum companies operating in the country, but Minister for Industry and Science Ed Husic warned that Australia can’t afford to be “left behind in a post-quantum world” amid unprecedented global geostrategic competition. The National […]
Industry Minister Comments on R&D Policy Leading into Budget
May 2nd, 2023May 2023 will mark the Labor government’s second budget in this term, as the budget moves back to its traditional May timing. Leading into the budget time, whether the R&D Tax Incentive is effective, or should be tinkered with (including by changing it to a grant or Government assessment/merit system, rather than broad based self assessment) is often raised by some in the media, politics or academia. An article published by the AFR in late March 2023 included comments from […]
New Accelerating Commercialisation Grants Announced in March and April 2023
April 11th, 2023New Accelerating Commercialisation grants have been announced in March and April 2023, which are the first awarded since the new government came into power in May 2022. Unlike the R&D Tax Incentive, which is a self-assessed, eligibility-based system enshrined in the law (where if companies can prove they meet the criteria, they can access the programme), Accelerating Commercialisation grants are merit-based and awarded largely at the discretion of the government based on guiding criteria. This means that considerable time may […]
Labor Government’s Flagship $15b Manufacturing Fund Passes into Law
March 30th, 2023Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstruction Fund (NRF) to make medical technology, local manufacturing and other critical industry investments a top priority. After some debate in recent months, The National Reconstruction Fund (NRF) Corporation bill was passed by both houses earlier this week with support from the Greens and a number of crossbenchers, after a series of amendments were approved. The […]
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Daniel McGregor2022-08-11I have been using Swanson Reed for my clients for more than a decade. Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients. Highly recommended.
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News & Research
News & Research
News & ResearchATO decision impact statements (DIS) are documents which seek to advise the community of the ATO’s view on the implications of a particular court or tribunal decision. The statement provides information for taxpayers and advisers. The AAT decision of GQHC and […]
30 April Statutory Deadline for FY23 R&D Claims – One Week to Go
There is one week to go until the deadline for FY23 R&D Registrations. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do […]
