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ATO ID 2005/358 Income tax Research and Development: ‘Aggregate research and development amount’ where core technology expenditure not deducted

August 19th, 2014

Where an eligible company chooses not to deduct an amount of core technology expenditure under subsection 73B (12A) of the Income Tax Assessment Act 1936 (ITAA 1936), is the amount included in the company’s ‘aggregate research and development amount’ as defined in subsection 73B(1) of the ITAA 1936? Yes. The amount allowable as a deduction under subsections 73B(12) or (12A) of the ITAA 1936 for core technology expenditure is included in the ‘aggregate research and development amount’ of an eligible company. The […]

ATO ID 2005/86 Income Tax Research and Development Tax Offset: ‘R&D group turnover’ where ownership of interests in an eligible company by an entity in capacity as trustee

August 19th, 2014

Where an eligible company is controlled by a person in a capacity as trustee, is the ‘value of supplies’ made by this person, as defined by subsection 73H(2) of the Income Tax Assessment Act 1936 (ITAA 1936), based only on those supplies made by it as trustee? Yes. The ‘value of supplies’ made by the person in its capacity as trustee, to be included in the ‘R&D group turnover’ of the eligible company under section 73K of the ITAA 1936, is based […]

ATO ID 2005/23 Income Tax Research and Development Tax Offset: legal ownership of interests in a company by an exempt entity

August 19th, 2014

Does an exempt entity legally own interests in a company within the meaning of subsection 73J(2) of the Income Tax Assessment Act 1936 (ITAA 1936), where the Corporations Act 2001 requirements for membership of a company have not been met? No. The exception in subsection 73J(2) of the ITAA 1936 will not operate to preclude a company from choosing a tax offset under section 73I of the ITAA 1936 where the exempt entity is not a member of the company under the Corporations Act. […]

ATO ID 2004/973 Income tax Research and Development: Additional deduction for incremental expenditure where a company has a transitional substituted accounting period in relation to the ‘deduction year’

August 19th, 2014

If an eligible company lodges a return of income for a period other than 12 months, will this period represent the ‘year of income’ (the ‘deduction year’ ) for the purposes of determining the company’s eligibility to claim an additional deduction for incremental expenditure, and also represent the ‘Y0 year’ when calculating ‘R&D spend’? No. The ‘deduction year’ for the purposes of section 73Q of the Income Tax Assessment Act 1936 (ITAA 1936), and the ‘Y0 year’, when calculating the ‘R&D spend’ under section 73P of the ITAA […]

Daniel McGregor

11. August, 2022

I have been using Swanson Reed for my clients for more than a decade. Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients. Highly recommended.

John

15. June, 2022

Damian and the rest of the team at Swanson Reed have been supporting us for several years. We always appreciate their insights, expertise, and efforts.

Rueben Rajasingam

6. June, 2022

Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.

Enrique Esquivel

6. June, 2022

Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.

Jess at Y&C

3. June, 2022

Anatole Kononewsky

2. June, 2022

The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.

Payam Toloo

2. June, 2022

Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.

Melissa Doddy

31. May, 2022

The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end. Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.

Gary Watson

31. May, 2022

We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.

Rob van den Bergh

31. May, 2022

Always professional.

Daniel McGregor

11. August, 2022

John

15. June, 2022

Damian and the rest of the team at Swanson Reed have been supporting us for several years. We always appreciate their insights, expertise, and efforts.

Rueben Rajasingam

6. June, 2022

Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.

Enrique Esquivel

6. June, 2022

Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.

Jess at Y&C

3. June, 2022

Anatole Kononewsky

2. June, 2022

Payam Toloo

2. June, 2022

Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.

Melissa Doddy

31. May, 2022

Gary Watson

31. May, 2022

Rob van den Bergh

31. May, 2022

Always professional.

What Our Clients Say

         Posted on Google  
   
   Daniel McGregor  
 11. August, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  I have been using Swanson Reed for my clients for more than a decade.  Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients. Highly recommended.
  
 
 
      Posted on Google  
   
   John  
 15. June, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  Damian and the rest of the team at Swanson Reed have been supporting us for several years.  We always appreciate their insights, expertise, and efforts.
  
 
 
      Posted on Google  
   
   Rueben Rajasingam  
 6. June, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.
  
 
 
      Posted on Google  
   
   Enrique Esquivel  
 6. June, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
  
 
 
      Posted on Google  
   
   Jess at Y&C  
 3. June, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  
  
 
 
      Posted on Google  
   
   Anatole Kononewsky  
 2. June, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
  
 
 
      Posted on Google  
   
   Payam Toloo  
 2. June, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.
  
 
 
      Posted on Google  
   
   Melissa Doddy  
 31. May, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end.  Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
  
 
 
      Posted on Google  
   
   Gary Watson  
 31. May, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.
  
 
 
      Posted on Google  
   
   Rob van den Bergh  
 31. May, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  Always professional.
  
 
 
  
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News & Research

Draft legislation released for R&D Tax Measures announced in May 2026 Federal Budget

In the Federal Budget handed down on 12 May 2026, The Government proposed major structural changes to the R&D Tax Incentive (RDTI) proposed to commence on 1 July 2028. Proposed reforms announced in May 2026 include: Increasing the offset for […]

DISR Agrifood sector guide for the R&D Tax Incentive

DISR has recently published new specific guidance for the sector. The guidance, titled ‘Agrifood sector guide for the R&D Tax Incentive’ includes worked examples of R&D activity assessment and relevant records claimants should keep. Companies and stakeholders interacting with the […]

Swanson Reed News

ATO ID 2005/358 Income tax Research and Development: ‘Aggregate research and development amount’ where core technology expenditure not deducted

ATO ID 2005/86 Income Tax Research and Development Tax Offset: ‘R&D group turnover’ where ownership of interests in an eligible company by an entity in capacity as trustee

ATO ID 2005/23 Income Tax Research and Development Tax Offset: legal ownership of interests in a company by an exempt entity

ATO ID 2004/973 Income tax Research and Development: Additional deduction for incremental expenditure where a company has a transitional substituted accounting period in relation to the ‘deduction year’

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ATO ID 2005/358 Income tax Research and Development: ‘Aggregate research and development amount’ where core technology expenditure not deducted

ATO ID 2005/86 Income Tax Research and Development Tax Offset: ‘R&D group turnover’ where ownership of interests in an eligible company by an entity in capacity as trustee

ATO ID 2005/23 Income Tax Research and Development Tax Offset: legal ownership of interests in a company by an exempt entity

ATO ID 2004/973 Income tax Research and Development: Additional deduction for incremental expenditure where a company has a transitional substituted accounting period in relation to the ‘deduction year’

Are You Eligible?

R&D Audit Checklist

Categories

Archives

What Our Clients Say

Quick Contact

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