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Omnibus Bill – Reduction in R&D Tax Offset Rate
September 19th, 2016The Omnibus Bill passed both houses of parliament last week and included $6.5 billion of savings measures. Included within these measures was a uniform 1.5% reduction in the R&D Tax Offset rates applying for income years starting on or after 1 July 2016. Whilst returning the budget to surplus is an important task for the government, this reduction is disappointing as the R&D Tax Incentive is the primary mechanism for inducing corporate investment in R&D Activity. The stability of the […]
Cutting Renewable R&D Funding in Australia
September 14th, 2016The Omnibus Bill As Australia’s government prepares to cut spending in order to repair the budget the Omnibus bill has been proposed, including in it a $1 billion cut to the Australian Renewable Energy Agency (ARENA) which will effectively eliminate the agency. Without ARENA funding R&D, renewable energy research will grind to a halt as the policies and cuts being proposed have the potential to set the country back roughly 30 years. The World is Taking Notes For many […]
A Future with Robots
September 12th, 2016Bigger Better Faster Stronger One of the greatest strengths of the human race is our continual practice of innovation – we are always creating newer, better, faster and safer ways of completing the tasks and challenges we face. As robots have become a major topic of conversation many have begun to wonder; will robots be another success for humanity or a colossal disaster? Well, first we must determine what exactly is meant by the term robot. A robot is a […]
Increased R&D Funding for the Beef Industry
September 8th, 2016Upping Investment Funding MLA (Meat & Livestock Australia) released plans to increase investment funding in R&D by about AU$100,000 more than the previous year in support of the innovation and development of the grain-fed and grass-fed beef industry sectors. Of this AU$12.7 million, approximately AU$7 million will be focused on research and development (R&D) while the remaining funds will put towards marketing campaigns for both grass and grain fed stocks. Competitive Advantage In Global Meat News, the point was made that as […]
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News & Research
News & Research
News & ResearchATO and AusIndustry Joint Podcast on R&D Tax Incentive
AusIndustry and the ATO have published a joint podcast on business.gov.au this week, featuring Brett Challans (ATO) and Kelly Wiggins (DISER). The podcast discusses key R&D Tax Incentive issues relevant to each department, including: Eligible entities; The self-assessment process; Categories […]
Record Penalty Imposed for Promotion of Schemes Involving R&D Tax Incentive
The Federal Court has imposed a record penalty of $22.68M on Mr Paul Enzo Bogiatto and his associated companies for a contravention of promoter penalty involving tax exploitation schemes relating to the R&D Tax Incentive between 2012 and 2015. Mr […]
