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ATO Issues Warning on R&D Claims for Farming Activities
October 22nd, 2015The Australian Tax Office and AusIndustry have issued guidance to alert companies against claiming the R&D tax incentive for business-as-usual farming activities. Expanding on this, ATO Deputy Commissioner Tim Dyce said that usual business expenditure is normally not eligible under the incentive and the law contains a number of requirements which must be satisfied in order for activities to be accepted. He further explains, “we’re seeing farmers applying soil treatments across their property, in some case thousands of hectares, which […]
Should Australia Focus on Businesses to Drive Innovation?
October 21st, 2015The Turnbull government have voiced their opinion on changing Australia to be more innovative, namely by endorsing start-ups. Early this month, Wyatt Roy, the Assistant Minister for Innovation, cited about how Israel transformed itself into a modern economy with more start-ups per capita than any other country, and how Australia could do the same to position ourselves as a world leader. The Turnbull government has already revealed that they are working on a major innovation agenda with crowdfunding for start-ups […]
Shifting the Culture in Australia by Leveraging Creativity, Innovation & Failure
October 20th, 2015Is interactive whisky the way of the future? Although pixelated alcohol hasn’t been invented yet (unfortunately), the bottle has had a digital makeover. Johnnie Walker has created a bottle which sends personalised communications to the user if they wave a smartphone in front of it, for example a promotional offer or a cocktail recipe. The bottle can be tracked down the supply chain, from the manufacture to end product user, allowing for detailed customer insights. Hence, transforming the humble Mad Men […]
When Life Gives You an Innovation Policy, Make Lemonade
October 19th, 2015The next generation of Australian entrepreneurs could stem from a modest, after-school lemonade stand. This is the winning idea by Erin Watson-Lynn and her team at the government’s weekend “hackathon”, which united over 150 people on Saturday from the tech, business and government fields to workshop future innovation policy. Taking inspiration from the United States, the simple pitch was to start a national Lemonade Day to create “DICE” kids – Digital, Innovative, Creative and Entrepreneurial children. The team behind the […]
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News & Research
News & Research
News & ResearchMyriota, a satellite communications company working closely with the University of South Australia in 2015, has received funding’s of $15 million dollars with Boeing HorizonX Ventures. Anthony Murfett said that “it demonstrates that businesses of all sizes can make a […]
Research papers find benefits of Government Financial Assist has Positive Impact on Private Finance
A recent report published from the Office of the Chief Economist has found that government assistance (such as that available from the R&D Tax Incentive) has a positive impact on a company’s ability to generate external finance (link to paper: […]
