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Important changes to AusIndustry’s r&d activites form
October 20th, 2013Last week, AusIndustry released version 5 of the R&D activities form. The application now requires more information from the Applicant regarding the nature of core and supporting activities alongside additional administrative information. Whilst the new requirements will require more time and input to complete, Swanson Reed views the changes as positive since Applicants must explicitly assert how their activities are eligible under the legislation. Swanson Reed recommends that all applicants spend sufficient time addressing the requirements of the expanded application […]
Mount Owen Pty Ltd and Innovation Australia [2013] AATA 573
October 18th, 2013The recent AAT decision, Mount Owen Pty Ltd and Innovation Australia [2013] AATA 573 was a well resourced AAT case that related to the R&D activities conducted by a large coal producer. It is relevant to companies that conduct R&D activities in a production environment. It is important to note that although the case references the Applicant as Hunter Valley Coal Corporation Pty Ltd, a then subsidiary of BHP Ltd, BHP had sold this company to another mining company and had no […]
Patent Box Australia to make R&D Tax Incentive more competitive
October 11th, 2013Australia is one of the world leaders in innovation and R&D, but our current tax system fails to reflect the challenges of a competitive global economy, especially as it relates to domestic biotechnology and manufacturing. Recently, the Abbott Government pledged to explore ‘patent box’ in Australia. The patent box Australia concept has already been adopted by many European countries and is currently before Congress in the U.S. These schemes provide reduced tax rates on income attributable to patented IP. The Patent Box will […]
Upcoming Abbott Government’s R&D Tax Incentive Policy
September 6th, 2013Swanson Reed welcomes ‘The Coalition’s Policy to Boost the Competitiveness of Australian Manufacturing’ with its support for a “new approach” to manufacturing and policy improvements to the R&D Tax Incentive. Tony Abbot and the Coalition has placed a completely different emphasis on the importance of increased commercial R&D in Australia than that of the Labor Government. In 2014, the Coalition plans to make changes to the R&D Tax Incentive program, including: A review of businesses over $20 Billion turnover program […]
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News & Research
News & Research
News & ResearchMyriota, 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 […]
Research papers find benefits of Government Financial Assist has Positive Impact on Private Finance
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: […]
