Swanson Reed News

AusIndustry Publish Redrafted Guide to Interpretation Document

November 9th, 2020

AusIndustry’s original Guide to Interpretation was published in January 2016, and has been considered the primary document for detailing how AusIndustry interprets key elements of the definition of ‘R&D activities’ as defined in the legislation. Material from the Guide to Interpretation was often referred to be AusIndustry during compliance processes, and it detailed AusIndustry’s position on complex issues, such as: Assessment of the purpose for which R&D Activities were undertaken; The scope of activities that are specifically excluded from consideration as Core […]

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Opposition Comments on Government’s Revised R&D Tax Reforms Passed From the Federal Budget

October 26th, 2020

When the federal government announced in December 2019 that they would reintroduce their previous R&D Tax Reform bill with a proposed start date of July 2019 for FY20, it was met with widespread condemnation from industry leaders. The bill reintroduced at that time was largely focused on savings measures, and was a slightly modified version of a previous reform bill, which did not pass through the Senate. The Senate Economics Committee had noted concerns around the proposed intensity threshold and […]

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Real Energy Corporation Limited Provides Update on Status of Innovation Australia R&D Dispute

October 19th, 2020

Within its recent FY20 Annual Report posted to the ASX, Real Energy Corporation Limited (ASX: RLE) has provided an update on the status of the company’s dispute with AusIndustry/ISA over the eligibility of its R&D Activities. The company had previously received an adverse finding for R&D Tax Registrations during the FY14, FY15 and FY16 periods, with corresponding tax offsets in dispute totalling around $7.2M. Further potential unpaid R&D Tax offsets of around $6.5M are at stake for the FY17 to FY19 periods. RLE has appealed […]

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Procuring Quality R&D Tax Services, and Distinguishing From Those That “Maximise Your Claim and Ensure Compliance, But Are NOT Providing Tax Advice”

October 15th, 2020

Swanson Reed’s overall wish is to see a functional, broad based R&D Tax Regime that provides a generous, stable and predictable incentive for companies to conduct genuine R&D Activity. The Federal Government’s budget announcement last week backing away from proposed cuts to the programme was a step in the right direction. Our view is that R&D Tax Incentive programme is currently cleaner, and subject to less mischief than it has been in prior years, largely due to the widespread reported […]

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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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