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Australian-Based Immutep Ltd Receives $3.63M AUD from French R&D Tax Incentive
June 11th, 2020Sydney-based company Immutep Ltd has recently announced that it received a €2,173,454 (~A$3,630,000) R&D Tax Incentive payment in cash from the French Government under its Crédit d’Impôt Recherche scheme (CIR). The payment relates to activity the company is conducting in Paris to develop its novel Immunotherapy treatment. Immutep Ltd also registers activities under the Australian R&D Tax Incentive and has previously reported the following receipts: YE 30 June 2018 – $872,000; YE 30 June 2019 – $1,290,000. Whilst there is […]
Reports That Senate Economics Committee Inquiry Into R&D Tax Incentive Reform Bill Has Been Deferred
June 3rd, 2020In 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 […]
Argent Minerals Settles R&D Tax Dispute Allowing Some Of Previously Disputed Claim To Be Deemed Eligible
May 26th, 2020Argent Minerals Limited has previously disclosed a liability in the company’s 2019 annual report for “R&D Claims repayable” of approximately $1.4M. This liability was in respect of R&D Tax Offsets for the FY16 and FY17 periods that AusIndustry had found relate to ineligible activities. Argent Minerals Limited had also reported that the company remained of the view that its R&D activities were eligible, and intended to pursue dispute of the adverse finding. The company has announced to the ASX over the past week […]
R&D Tax Incentive Reform Still On Government Agenda, Despite Focus On Enhancing Local Manufacturing
May 22nd, 2020Industry Minister Karen Andrews addressed the National Press Club during the week to outline Government plans for industry policy in the wake of the COVID-19 situation. Points from the speech include the following: Ms Andrews said the Coronavirus pandemic had exposed gaps in Australia’s manufacturing capacity, and there would be “significant changes” once the crisis abated; The government would look to build on its “comparative strengths” in mining and agriculture and find ways to “value-add” on raw materials previously marked […]
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News & Research
News & Research
News & ResearchATO and AusIndustry Joint Podcast on R&D Tax Incentive
AusIndustry and the ATO have published a joint podcast on business.gov.au this week, featuring Brett Challans (ATO) and Kelly Wiggins (DISER). The podcast discusses key R&D Tax Incentive issues relevant to each department, including: Eligible entities; The self-assessment process; Categories […]
Record Penalty Imposed for Promotion of Schemes Involving R&D Tax Incentive
The Federal Court has imposed a record penalty of $22.68M on Mr Paul Enzo Bogiatto and his associated companies for a contravention of promoter penalty involving tax exploitation schemes relating to the R&D Tax Incentive between 2012 and 2015. Mr […]
