Swanson Reed News

Northern Minerals Ltd Receives $8.7M FY20 R&D Tax Refund Following Resolution of Prior Year Disputes

June 21st, 2021

Northern Minerals Ltd was one of the most high profile R&D tax disputes reported at the height of the R&D tax incentive compliance “crackdown” period. The company reported a significant liability in respect of regulators seeking repayment of disputed R&D tax offsets; It was subsequently reported in August 2020 that the company had settled the dispute with the ATO relating to claims in the FY17 and FY18 periods, along with an agreed framework for claims in the FY19 and FY20 […]

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Process for Setting Up MyGovID and Authorisation for New AusIndustry R&D Tax Portal

June 14th, 2021

AusIndustry have changed their reporting processes whereby they are mandating the use of a new online form for FY21 onwards. As part of this, directors of companies must set up a myGovID account (or use an existing myGovID), then link their personal myGovID to their R&D-registering company, then link to the R&D tax advisor preparing the application. Instructions for this process to link Swanson Reed to your company are as follows: Step 1: be in front of your computer with a […]

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PWK and ISA: AAT Finds in Favour of R&D Entity Over Disputed Activity Eligibility

June 7th, 2021

A recent AAT case (PKWK and Innovation and Science Australia (Taxation) [2021] AATA 706 (24 March 2021)) has found in favour of the R&D entity in a dispute over eligibility. The dispute related to a registration of activities for the financial year ended 30 June 2015 in respect of a registration for the following: Core Activity 1.1: Process design, modelling and mechanical design in respect of a soil treatment facility using pyrolysis technology; Supporting Activity 1.1.1: Project evaluation and documentation; Supporting Activity […]

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Observations from new online R&D Tax Incentive customer portal

June 4th, 2021

Over recent weeks AusIndustry launched their new, online R&D Tax Incentive customer portal which replaces the old PDF Smartform Lodgement system. AusIndustry are mandating that all FY21 R&D Applications are lodged via this new online system, which commences accepting lodgements from Monday 5 July, 2021. There are significant changes from the old system (both in the lodgement process and reporting declarations) and companies who are looking to lodge their FY21 applications soon after the end of the financial year should […]

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Bryce Steele
Principal, Melbourne
Tel: (03) 9018 5778
Mob: 0435 713 493
Tom Parkhouse
Principal, Sydney
Tel: (02) 8006 0559
Mob: 0435 713 493
Andy Nguyen
Principal, Brisbane
Tel: (07) 3221 1499
Mob: 0407 750 249
Kieu McKellar
Manager, Adelaide
Tel: (08) 8121 7850
Mob: 0435 713 493
David Greatwich
Principal, Perth
Tel: (08) 9340 3745
Mob: 0468 386 250
Krishna Gungaram
Manager, Hobart
Tel: (03) 9018 5778
Mob: 0435 713 493