Swanson Reed News

Satellite communications company, Myriota, first start up to sign agreement with Australian Space Agency

July 16th, 2019

Myriota, a satellite communications company working closely with the University of South Australia in 2015, has received funding’s of $15 million dollars with Boeing HorizonX Ventures. Anthony Murfett said that “it demonstrates that businesses of all sizes can make a significant contribution to Australia’s space industry.” The coaction of a startup and the Space Agency have shown the importance of a unique R&D and IP. Murfett commented, “Myriota’s technological innovation is important not only to support the growth and transformation […]

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Research papers find benefits of Government Financial Assist has Positive Impact on Private Finance

July 10th, 2019

A recent report published from the Office of the Chief Economist has found that government assistance (such as that available from the R&D Tax Incentive) has a positive impact on a company’s ability to generate external finance (link to paper: https://www.industry.gov.au/sites/default/files/2019-06/government-financial-assistance-as-a-catalyst-for-private-financing.pdf). The report referenced previous papers investigating the effectiveness of R&D Tax Incentives which found substantial evidence that receiving R&D tax subsidies improve the likelihood and amount of external financing available to a firm, especially when the firm is small […]

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Ultimate Vision Inventions Pty Ltd and Innovation and Science Australia (Taxation) [2019] AATA 1633 (27 June 2019)

July 9th, 2019

Introduction A recent case heard in the AAT has affirmed a previous decision by Innovation and Science Australia (AusIndustry) finding that Activities registered under the R&D Tax Incentive were not in accordance with the legislative requirements. The case: Ultimate Vision Inventions Pty Ltd and Innovation and Science Australia (Taxation) [2019] AATA 1633 refers to a company that registered R&D activities for the FY14 and FY15 periods. Background The project related to the development of an integrated health and fitness program and cloud-based […]

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Government indicates Senate Economics Committee recommendations on R&D reforms being considered, whilst R&D companies call for certainty

July 4th, 2019

An article published in today’s SMH has indicated that the government’s proposed reforms to the R&D Tax Incentive may be back on the agenda. The bill to enact these reforms, the Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018, did not pass through the Senate, and a Senate Economics Legislation Committee recommended that the bill should be deferred from consideration until further analysis of the bill’s impact is undertaken, […]

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

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