Swanson Reed News

R&D Tax Incentive Legislation Update

September 25th, 2018

Last week, the Government introduced changes to the R&D Tax Incentive as part of an Omnibus Bill, following an announcement of the changes in May’s Federal Budget. It is uncertain whether the Bill will pass both the lower house of parliament and the Senate. The revisions are proposed to apply for the 2019 Financial Year. Read the first reading of the bill¬†here.

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Moreton Resources Ltd and Innovation and Science Australia (Taxation) [2018] AATA 3378 (10 September 2018)

September 18th, 2018

Introduction The case Moreton Resources Ltd and Innovation and Science Australia (Taxation) [2018] AATA 3378 refers to a mining company that registered R&D activities for the years 2012, 2013 and 2014. After an examination of the registrations, Innovation and Science Australia (ISA) determined that these activities were ineligible for the R&D Tax Incentive. The company had been subject to a number of adverse compliance reviews under the old R&D Concession, however they continued to claim. Background On 14 May 2015, […]

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Moreton Resources’ R&D Activities Affirmed As Ineligible

September 14th, 2018

On 12 September 2018, Moreton Resources Ltd announced on the ASX that the Administrative Appeals Tribunal (AAT) recently affirmed a decision by Innovation and Science Australia (ISA) that registered R&D activities were not eligible. This was decided on the basis that underground coal gasification is a known and proven technology and is therefore not considered a research and development activity, as defined by the 1997 Income Tax Assessment Act. The AAT have issued an amended assessment for $9M. Moreton Resources […]

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Swanson Reed – R&D Legislative Amendment Submission

July 25th, 2018

The Australian Government announced a reform of the R&D Tax Incentive program as part of the 2018-19 Federal Budget. Swanson Reed is of the view that stable and generous support for R&D must be maintained to give companies confidence to invest in long-term innovation strategies. We have provided feedback in response to the draft legislation of amendments to the Research and Development Tax Incentive.¬† To read our submission to the Treasury, please click the link below: Swanson Reed – R&D […]

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Bryce Steele
Principal, Melbourne
Tel: (03) 9018 5778
Mob: 0401 997 584
Tom Parkhouse
Principal, Sydney
Tel: (02) 8006 0559
Mob: 0411 718 565
Andy Nguyen
Principal, Brisbane
Tel: (07) 3221 1499
Mob: 0407 750 249
Sophie Mercer
Principal, Adelaide
Tel: (08) 8121 7850
Mob: 0435 713 493
David Greatwich
Principal, Perth
Tel: (08) 9340 3745
Mob: 0468 386 250
Myriam Risch
Manager, Hobart
Tel: (03) 9018 5778
Mob: 0401 262 591

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