Swanson Reed News

Updated Regulations and Principles for the R&D Tax Incentive

April 20th, 2022

Administration of the R&D Tax Incentive is undertaken in accordance with the Industry Research and Development Act 1986. The Australian Government has made new versions of 2 legislative instruments under this Act: Industry Research and Development Regulations Industry Research and Development Decision-making Principles The previous versions of these instruments had sunset clauses that were due to automatically expire this year. The instruments have been remade, and remain broadly the same as was previously in place. The main notable change is […]

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AusIndustry Release New Software Guidance Titled “Software-Related Activities and the Research and Development (R&D) Tax Incentive”

April 13th, 2022

In April 2022, AusIndustry released a new guidance document titled “Software-Related Activities and the Research and Development (R&D) Tax Incentive”. The release of this document follows previous guidance in recent years, along with some controversies for software-development R&D activity that saw: A number of well publicised disputes; Reports of some disputes being settled; Calls by some in the industry for a ‘Software Specific’ R&D Tax Incentive, or a change in the criteria of the current incentive to be easier to […]

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Board of Taxation Review of the R&D Tax Incentive Recommends No Major Changes

April 4th, 2022

In the previous federal budget handed down in May 2021, the government announced that the Board of Taxation (Board) would undertake a review to evaluate the dual‑agency administration model for the Research and Development Tax Incentive (R&DTI). The Board was requested to evaluate the R&DTI dual agency administration model, with a view to identifying opportunities to reduce duplication between the two administrators, simplify administrative processes, or otherwise reduce the compliance costs for applicants. Swanson Reed participated in the consultation during […]

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Federal Budget March 2022 – R&D Tax Incentive Update (no major changes, thankfully!)

March 30th, 2022

Leading into the May 2021 and March 2022 budgets, there were no anticipated changes proposed to the R&D Tax Incentive, since the previously announced changes for FY22 had only recently been legislated and commenced. Based on a preliminary review of the 2022 budget material, no material changes seem to have been proposed to the R&D Tax Incentive, which, after a tumultuous period over the past decade, is good news! Interestingly, in the 2022 budget papers for the Industry, Science, Energy […]

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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