Over recent months, a number of companies have reported to the ASX receipt of substantial Refundable R&D Tax Offsets. Notable receipts include: Syntara Limited (ASX: SNT) reported a $5.25 million Refundable R&D tax offset related to its clinical development pipeline including PXS-5505 in myelofibrosis project; Neurotech International (ASX: NTI) reported a $3.17 million Refundable R&D tax offset related to its development of treatments for paediatric neurological disorders ClearVue Technologies Limited (ASX:CPV) reported a $0.94 million Refundable R&D tax offset related […]
Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstruction Fund to make technology and local manufacturing investments a top priority. Labor went on to win the election, and enacted the fund. The objective of the NRF is to provide a financing vehicle to drive investment in projects seeking to build prosperity across the country, providing loans, guarantees and equity to support specific projects. […]
Various laws determine the manner in which a company’s assets are distributed to employees and creditors in the event of an insolvency event. In a decision handed down by the New South Wales Supreme Court in 2022, the order of priority of payments in a winding up where employee debts and secured creditor claims exist was considered. The matter was Spitfire Corporation Limited (in liquidation) and Aspirio Pty Ltd (in liquidation) [2022] NSWSC 340. The court considered whether Refundable R&D […]
Participants in the R&D Tax Incentive can expect a greater level of compliance activity soon. The ATO has published an update this month titled ‘R&D Tax Incentive: Future Focus’. The update announced a series of future-focused initiatives aimed at ensuring the integrity of the Research and Development Tax Incentive (R&DTI) program. The ATO update notes that the ATO will be collaborating with the Department of Industry, Science and Resources (DISR, or AusIndustry) as well as educating companies and R&D consultants […]