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AFR Publishes Statistics on Repayment of R&D Claims Found Ineligible
May 28th, 2019AFR has published data it has attained via freedom of information laws with respect to the repayment of R&D Claims found to be ineligible upon audit. These documents reportedly showed $500 million was reclaimed in R&D incentive compliance cases across three years; $200 million in FY18, $115 million in FY17 and $185 million in FY16. These documents also reported that 0.6 of 12,123 incentive claims made by Australian organisations in FY16 were subject to a compliance review, whereas this significantly […]
REAL ENERGY CORPORATION – R&D Activities Found to be Ineligible Following AusIndustry Review
May 27th, 2019Real Energy Corporation Limited (ASX : RLE) have announced to the ASX that the company has received notice that AusIndustry has found the company’s R&D Activities for the FY14, FY15 and FY16 years to be ineligible. During the period of the last three years, Real Energy Corporation Limited has been paid around $7.2 million in R&D Incentives and potentially unpaid R&D claims of around $6.5 million. The R&D activities related to development of gas extraction processes and in the […]
Government’s First Comments on R&D Tax Incentive Since Election
May 21st, 2019The former (and likely to be ongoing) Minister for Industry, Science and Technology, Karen Andrews has been interviewed in today’s Australian Financial Review (21 May). This represented the Morrison government’s first comments on the R&D Tax Incentive since the coalition’s return to government. Ms Andrews made note that the widespread media reports of startup entities being subjected to adverse assessments during compliance reviews of their R&D Claims were not a result of technology companies being specifically targeted, and that “the […]
Federal Election 2019 – Impact of Result on R&D Tax Incentive
May 20th, 2019Over the past six months, the R&D Tax Incentive became a discussion point and the major political parties have differed in their views. Labor sought to position themselves as prioritizing the R&D Tax Incentive over the coalition government, and had made specific policy announcements including: Criticising the programme’s cost reduction in the budget papers, and stating a Labor government would use the R&D Tax Incentive as a means of increasing Business Investment in R&D (BERD); A proposed introduction of a collaboration […]
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News & Research
News & Research
News & ResearchInnovationAus Reports Proposed Changes to the R&D Tax Incentive are Now Unlikely to Pass
InnovationAus has reported this week that proposed changes to the R&D tax incentive are now unlikely to pass as legislation this year: A reform bill proposing controversial changes to the R&D Tax Incentive for FY20 was being considered by the Senate prior to the onset […]
COVID-19 and the R&D Tax Registration Deadline for YE 30 June 2019 (AusIndustry Announcement)
Our thoughts are with all who are directly impacted by the Coronavirus crisis, and we remain optimistic that the resolve of Australians will prevail. Swanson Reed has taken measures to protect our staff and clients, and will be fully functional […]
