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The Cost of Time When Claiming the R&D Tax Incentive: Salaries
February 18th, 2016One of the areas that many R&D Tax Incentive claimants miss out on in the initial stages of undertaking eligible R&D activities is valuing the time spent on core activities. If you are not paying salaries this year as you are trying to keep costs low whilst you commence your R&D start-up business, you may want to think again. To elaborate, salaries – including that of management and support staff – are an example of R&D Expenditure. However, it is […]
Australia Launches First IoT Innovation Hub in Sydney
February 17th, 2016Smart kettles, fridges that keep tabs on when the milk is going off, tweeting catflaps, connected keyless locks that let your cleaner in but keep your mother-in-law out — the Internet of Things (IoT) is, as they say, most definitely a thing. Whether it’s on the consumer side of wearable tech, such as gadgets that measure your heart rate or monitor your sleep, or cities with everything smart, the march towards IoT is going full steam ahead. By the turn of the […]
Innovation in Australia: Collaborate or Cease?
February 16th, 2016“Innovate or Die” – the saying has become somewhat of a proverb of late in Australia as Turnbull pushes forward his Innovation Agenda in 2016. However, should the motto be “collaborate or cease” instead? To elaborate, last week an Issues Paper (PDF 611KB) was released reviewing the Australian R&D Tax Incentive. The review confirms that Australian businesses still have the lowest rates of the OECD pack when it comes to R&D collaboration with universities and other research organisations. In specific, fewer […]
What Are the Ineligible Expenses & Expenditures Pertaining to the R&D Tax Incentive?
February 15th, 2016If you are a firm who uses technology as a foundation for creating new or improved products or services – and the development involves investing in a degree of experimentation or prototyping – there’s a high likelihood you may be eligible for the R&D Tax Incentive. However, the fact remains that there is still quite a bit of confusion around what can and cannot be claimed. In one of our previous posts, we discussed what the ‘non core’ R&D Tax Incentive activities […]
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News & Research
News & Research
News & ResearchIntroduction A recent case heard in the AAT has affirmed a previous decision by Innovation and Science Australia (AusIndustry) finding that Activities registered under the R&D Tax Incentive were not in accordance with the legislative requirements. The case: H2O Exchange Pty Ltd and Innovation and […]
The AFR has reported that the NSW Government is to form a new advisory council, chaired by David Gonski with a brief to make NSW “the R&D leader within Australia and a world-class contributor”. Forming of the NSW R&D council […]
