Swanson Reed News

Australian National Audit Office To Audit The R&D Tax Incentive

July 23rd, 2020

The Australian National Audit Office (ANAO) is set to undertake an audit of the government’s administration of the R&D Tax Incentive scheme this year. This will be the first time the ANAO has looked at the scheme since it was introduced in July 2011. The audit will aim to assess the effectiveness of the R&D Tax Incentive’s administration by the Department of Industry, Science, Energy and Resources and the ATO.  Small Business Ombudsman Kate Carnell was quoted in InnovationAus, stating […]

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Shipbuilder AUSTAL Ltd reports increased earnings guidance stemming from R&D investment

July 20th, 2020

Whilst experiencing a setback in May following the announcement of a contract being awarded to a competitor, AUSTAL LIMITED has recently been one of the outstanding performers on the ASX, with the value of its shares having increased approximately 25% over the past quarter. AUSTAL LIMITED has R&D, manufacturing and service headquarters in Australia (Perth and Cairns), alongside global R&D and manufacturing facilities based in Alabama, Vietnam and the Philippines. Within recent ASX and trading updates leading up to financial year end, […]

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Camalic Pty Ltd and Innovation and Science Australia (Taxation) [2020] AATA 1590 (3 June 2020)

July 13th, 2020

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. Background: Camalic Pty Ltd V ISA was a dispute in respect of a registration in the FY14 and FY15 periods for development of a software predictive tool that utilises a significantly large number of multiple variables to predict an increase in value based upon […]

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Reported Cross Bench and Labor Party Opposition To R&D Reform Following Senate Economics Committee Public Hearing

July 7th, 2020

In December 2019, the government re-introduced a bill to reform the R&D Tax Incentive. This bill was a slightly modified version of a previous reform bill (Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018), which did not pass through the Senate at that time. A Senate Economics Legislation Committee recommended in February 2019 that the initial bill should be deferred from consideration until further analysis of the bill’s impact […]

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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: 0435 713 493
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
Krishna Gungaram
Manager, Hobart
Tel: (03) 9018 5778
Mob: 0435 713 493



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