Swanson Reed News

Possible changes to $3 billion R&D tax incentive budget

April 5th, 2018

The Australian Financial Review have today released an article in relation to the $3 billion R&D tax incentive budget. During comments at the AFR wealth summit, Treasurer Scott Morrison indicated changes to the R&D tax incentive may be forthcoming in the upcoming May budget. The Government may choose to adopt the recommendations from the ISA report, one of which recommends bigger businesses being required to meet a 1 per cent intensity threshold before being eligible to claim non-refundable offsets. Mr […]

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QLD Company fined over $4 million due to incorrect R&D tax claims

March 26th, 2018

Advisors and Business owners are being warned! A Queensland business has been fined over $4 million for encouraging clients to lodge overstated or ineligible R&D tax incentive claims. On Tuesday 20 March the Australian Taxation Office confirmed the fine had been secured in the Federal Court against a company and its director for breaching promoter penalty laws relating to financial services. The company has allegedly been involved in 10 schemes leading to eight business clients receiving more than $3 million […]

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Global Wave and Tidal Energy Market Set to Boom

March 16th, 2018

In 2016, investment in renewables were double that of fossil fuels. With a focus on clean energy sources being developed as an alternative to fossil fuels, the global wave and tidal energy market is set to be worth $3.9 billion by 2025, up from $212.7 million in 2016. With water covering over 70 percent of the earth’s surface, improving wave and tidal energy makes a lot sense, especially as they are more reliable than solar and wind power, which are intermittent throughout […]

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Research & Development Tax Incentive boost from government to fast-track plant R&D

March 9th, 2018

Australia’s only ASX listed plant breeding company, Abundant Produce Limited, has received a $630,000 Research & Development Tax Incentive. This incentive is an increase from previous estimates of $250,000. In addition to the received grant, the NSW Government’s TechVouchers program will also fund a $20,000 project in collaboration with the University of NSW for the Taste of Research Programme and R&D for ABT’s Lycopene ActiveLyco Products. The ABT will also release a third source of funds of $50,000 thanks to […]

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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: 0411 718 565
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
Sarah Guan
Manager, Hobart
Tel: (03) 9018 5778
Mob: 0401 262 591

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