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Paradigm Biopharmaceuticals (ASX:PAR) Received $8.2m R&D Tax Refund

June 13th, 2022

Melbourne based Paradigm Biopharmaceuticals has reported receipt of a $8.2 million research and development tax incentive refund for the YE 30 June 2021 relating to ongoing R&D activities into its pentosan polysulfate sodium treatment. The company has advised that the funds will be reinvested in R&D activities and to support its global Phase 3 and Phase 2 clinical programs. Paradigm Biopharmaceuticals’ R&D offset refund is one of the larger R&D tax offsets reported, alongside the likes of Telix Pharmaceuticals’ R&D […]

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ATO Release 2022 R&D Schedule Including Changes

June 2nd, 2022

R&D claims for the YE 30 June 2022 involve a number of changes from prior years, reflective of the legislative amendments arising in the October 2020 budget. These amendments change the mechanisms for calculation and reporting of R&D tax offsets to the ATO, which also presents the need for corresponding changes in the company tax return. In late May 2022, the ATO released its Research and Development Tax Incentive Schedule 2022 (NAT 73794) with corresponding changes to the labels within. […]

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Media Coverage of Change in Government Implications for the R&D Tax Incentive

June 1st, 2022

Going into the federal election held on 21 May 2022, it was not expected that the R&D Tax Incentive was to be impacted (in the short term at least), and there were not any announcements during the campaign that have been R&D tax specific. This was so, since recent legislative amendments to the R&D Tax Incentive had only recently commenced after the October 2020 bi-partisan enactment of the underlying law, and it would be unlikely for further change to happen […]

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ATO Debts on Hold Will Again be Used to Offset Tax Refunds or Credits Starting June

May 23rd, 2022

Accountants Daily have reported an ATO announcement that ‘debts on hold’ will again be used to offset tax refunds or credits starting next month. A non-pursued debt is a debt that has been placed on hold and is not visible on the balance of a taxpayer account. When a debt is placed on hold, the ATO do not undertake any collection action, usually because it is not economical to do so. A debt deemed uneconomical for collection action will be […]

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Alex Chisholm
Principal, Melbourne
Tom Parkhouse
Principal, Sydney
Andy Nguyen
Principal, Brisbane
Holly Parkinson
Manager, Adelaide
David Greatwich
Principal, Perth
Krishna Gungaram
Manager, Hobart

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