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What Could Australia Learn From Sweden’s Innovation Model?

May 3rd, 2016

A century ago, Sweden was among the poorest nations in Europe. It’s a small country, home to just 0.13 per cent of the global population. Yet today, it is a world leader in innovation. In fact, the Innovation Union Scoreboard 2010, an index published by the European Commission, ranks Sweden as the leading country for innovation among EU member states. Fittingly, Australia’s latest Prime Minister has recently pinned the country’s economic renaissance on an ‘Ideas Boom’, where innovation and technology drive […]

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Final Days to Register Activities for the R&D Tax Incentive

May 2nd, 2016

This year, April 30 transpired on a Saturday which has subsequently extended the R&D tax incentive registration deadline to today (2 May 2016). Moreover, as it is a public holiday in Queensland today, Queensland-based entities may lodge registrations until tomorrow (3 May 2016). As per previous years, the R&D tax incentive registration deadline is 10 months after a company’s financial year end. Thus, for companies with a June 30 financial year-end, they will typically need to register their R&D activities […]

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How the R&D Tax Incentive Tax Offset Works, Interaction with Tax Position and Summary of Changes:

April 29th, 2016

The R&D tax incentive operating from FY12 entitles companies to tax offsets for eligible expenditure on registered R&D activities, in exchange for tax deductions on the expenditure. The Incentive introduced the concept of a notional deduction, since eligible expenditure notionally determines R&D tax offsets, but any entitlement to a tax deduction is foregone. The forfeiture of tax deductions for R&D expenditure is made at item 7, label D (addback of non-capitalised R&D expenditure) in the company tax return. Prior the […]

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CSL Urges R&D Tax Incentive Safeguard

April 26th, 2016

In launching the innovation and science agenda in December, the Australian Government announced that they would be undertaking a review of the R&D Tax Incentive programme.  At present, the review is currently ongoing by a panel led by Bill Ferris and it is expected to report to Government in April 2016.  However, the announcement of a review has resulted in companies underlining their apprehensions about changes to the initiative. Most recently, CSL has joined industry appeals to the federal government to […]

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Alex Chisholm
Principal, Melbourne
Tom Parkhouse
Principal, Sydney
Andy Nguyen
Principal, Brisbane
Holly Parkinson
Manager, Adelaide
David Greatwich
Principal, Perth
Krishna Gungaram
Manager, Hobart

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