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Opposition Policy on R&D Tax Incentive
January 17th, 2019With a federal election due over the coming months, the opposition labor party have made some announcements with respect to their policy on the R&D Tax incentive. The original R&D tax incentive legislation was enacted whilst the labor was in power. Labor have committed to maintain the R&D tax incentive as the primary lever to induce business R&D. Labor have indicated they would look to incorporate the collaboration premium within the R&D tax incentive for expenditure on activities undertaken in […]
AusIndustry R&D Tax Incentive Updates For 2019
January 7th, 2019Conducting R&D activities generates new knowledge that can benefit the nation’s economy. In a recent AusIndustry information bulletin, it was mentioned that one of the main aims of the R&D Tax Incentive is to encourage Australian businesses to undertake research and development that would not be conducted otherwise. This is achieved by helping to offset some of the costs of engaging in R&D. Useful information on the R&D Tax Incentive can be accessed from page 24 in the Innovation and […]
StartupAUS Calls for Clearer Support for Software R&D Activities
December 6th, 2018StartupAUS, Australia’s national startup advocacy group has released a report titled Crossroads – Fifth Anniversary edition. Data from the company has found that almost 90 percent of startups rate the R&D tax incentive as “very important” or “critical” to their business’s success. Within the report, they have called for greater assurance for software companies accessing the R&D Tax Incentive, and put forward proposals including: A moratorium on audits for software claims; A legislative amendment to the R&D Tax Incentive, or […]
R&D Tax Incentive Crackdown For Software Claims
December 4th, 2018Reports have emerged in the media recently of software development companies that have been subject to adverse R&D Tax Compliance proceedings: Airtasker hit by R&D incentive tax crackdown that threatens tech firms Whilst the benefits available under the R&D Tax Incentive are significant, these reports affirm the need to ensure R&D claims are completed with diligence, and in accordance with the current reporting expectations. Recent publications from ATO and AusIndustry on software development activities have highlighted current regulatory compliance focuses, […]
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News & Research
News & Research
News & ResearchIntroduction 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: H2O Exchange Pty Ltd and Innovation and […]
The AFR has reported that the NSW Government is to form a new advisory council, chaired by David Gonski with a brief to make NSW “the R&D leader within Australia and a world-class contributor”. Forming of the NSW R&D council […]
