Companies seeking to claim expenditure for overseas activity incurred by an Australian company under the R&D Tax Incentive must apply separately to claim these costs by first lodging an Overseas Finding Application with AusIndustry. In addition to general eligibility criteria, there are specific and extensive rules to determine whether expenditure on overseas activities is eligible under the R&D Tax Incentive. Generally, expenditure incurred by Australian companies on R&D activities conducted overseas can only be eligible for the R&D Tax Incentive where: The […]
Moreton Resources Ltd (currently under external administration per ASIC records) has been involved in several cases heard in the AAT and federal court regarding disputes over the company’s significate refundable R&D Tax Offset claims. Moreton Resources Ltd has also been one of the few companies to have attained a favourable outcome in a dispute with the R&D Tax regulators in recent years. The company has been involved in new AAT case recently (Moreton Resources Ltd and Commissioner of Taxation (Taxation) [2024] AATA […]
In recent weeks the ATO has updated R&D Tax Incentive specific guidance on their website, including: Guidance for determination of a company’s rate of R&D Tax Offset; Details about the upcoming release of claimant expenditure data which is now required by law to be published; Guidance about the programme, including  R&D tax incentive program charter which the ATO developed with AusIndustry. Participants in the programme may wish to review this information. Please get in touch with our office if you […]
In the wake of the recent 2024-25 federal budget announcement that the government will conduct of review of Australia’s research and development system, business leaders have been quick to declare that any change must NOT seek to reduce R&D tax incentives. This was highlighted in an article published by The Australian Financial Review last week. The independent expert review, expected to span 18 months, is part of a strategic effort to halt the decline in Australia’s R&D investment, which has reached a two-decade […]