Swanson Reed News

$280M Funding Announced for Round 2 of the Modern Manufacturing Initiative

December 9th, 2021

The Government has today announced $280 million in funding available through Round 2 of the Integration and Translation Streams of the $1.3 billion Modern Manufacturing Initiative (MMI).    Applications will soon open for businesses in the six National Manufacturing Priority Areas: Space; Medical Products; Resources Technology and Critical Minerals Processing; Food and Beverage; Recycling and Clean Energy and  Defence.  Applications will open in two tranches, starting 13 December 2021. Read our blog about the different opportunities for funding in R&D […]

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Australian National Audit Office Report Recommendations from Review of R&D Tax Incentive’s Administration

November 30th, 2021

The Australian National Audit Office (ANAO)’s purpose is to support accountability and transparency in the Australian Government sector through independent reporting to the Parliament, and thereby contribute to improved public sector performance. Changes to the R&D Tax Incentive administration announced by the Government in the May 2018 budget included: additional funding for improved guidance and litigation; enhanced compliance activities; and ICT system improvements. As reported earlier in 2021, the ANAO has undertaken a review of the administration of the R&D Tax […]

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New AAT case affirms structure where business operating as a trust and notionally invoicing R&D costs to associate company is NOT valid

November 26th, 2021

An AAT Case in November 2021 (XQDX v FC of T)  has affirmed that a structure where a business operating as a trust and notionally invoicing R&D costs to associate company is NOT valid for the purposes of the R&D Tax Incentive. The facts were broadly as follows: The Applicant (a company and the claimed R&D Entity) was incorporated in July 2007; The claimed R&D Entity was also the trustee of a trust. A business was conducted through the trust […]

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Strike Energy (ASX:STX) Reports Receipt of $8M R&D Tax Offset in FY21 Annual Report Following Dispute Settlement

November 16th, 2021

Strike Energy previously disclosed R&D Tax Offsets in dispute with Innovation & Science Australia (ISA) in respect of the FY16 period of $6,333,638 which also had subsequent implications on R&D Tax Offsets in the FY17 period of $3,697,000. Subsequent announcements to the ASX in following initial disclosure of the dispute indicated that: The matter was before the Administrative Appeals Tribunal (AAT); The company was confident in their position and the eligibility of their claims; Strike Energy then announced to the […]

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Bryce Steele
Principal, Melbourne
Tel: (03) 9018 5778
Mob: 0435 713 493
Tom Parkhouse
Principal, Sydney
Tel: (02) 8006 0559
Mob: 0435 713 493
Andy Nguyen
Principal, Brisbane
Tel: (07) 3221 1499
Mob: 0407 750 249
Kieu McKellar
Manager, Adelaide
Tel: (08) 8121 7850
Mob: 0435 713 493
David Greatwich
Principal, Perth
Tel: (08) 9340 3745
Mob: 0468 386 250
Krishna Gungaram
Manager, Hobart
Tel: (03) 9018 5778
Mob: 0435 713 493