Swanson Reed News

R&D Tax Registration Deadline for YE 30 June 2020 is April

April 6th, 2021

Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2020 (ie FY20 – last financial year) who are yet to do so should note that the Registration Deadline is 30 April 2021. Last year, AusIndustry applied a blanket extension to all companies’ FY19 R&D Applications due to COVID. We are of the understanding that this blanket extension will NOT be available for FY20 applications, and the 30 April 2021 statutory deadline (10 months after the end of the financial […]

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Federal Court Appeal Finds in Favour of ATO for Recovery of R&D Offset

March 29th, 2021

On 19 March 2021, a decision in the appeal of The Federal Court case of Commissioner of Taxation v Auctus Resources Pty Ltd [2021] FCAFC 39 was handed down. In the preceding case, Auctus Resources Pty Ltd v Commissioner of Taxation [2020] FCA 1096, The Federal Court found that the ATO was not able to use s.8AAZN of the Tax Administration Act 1953 (a provision related to Overpayments made by the Commissioner under taxation laws)  to recover a tax refund relating to an R&D tax offset refund in […]

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The Australian National Audit Office to Review Administration of R&D Tax Incentive

March 22nd, 2021

InnovationAus has reported that The Australian National Audit Office (ANAO) is conducting an audit into the effectiveness of the Industry department and Australian Taxation Office’s administration of the research and development tax incentive (RDTI) program and is expected to table its report in October. Submissions are able to be made by stakeholders until May 2021. The audit criteria per the ANAO’s website states that “The ANAO proposes to examine: Are assessment, compliance and assurance arrangements effective? Are performance measurement and monitoring arrangements […]

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AFR Reports Top Tech Companies Approach ATO Seeking a Meeting to Discuss Eligibility of Software R&D Activity

March 15th, 2021

The AFR has reported this week that leading technology companies (including Atlassian, Airtasker, Canva and Deputy, among others) have sent a letter to commissioner of taxation, Chris Jordan. The letter reportedly includes an offer to convene a workshop with the ATO to “improve the understanding of software innovation in the tax office and, conversely, address any concerns the ATO has about software related claims”. This letter follows concerns around the eligibility of software development Activity under the R&D Tax Incentive […]

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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

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