Swanson Reed News

Advanced and Overseas Findings

March 16th, 2014

An Advanced Finding is a binding decision from Innovation Australia about the eligibility of a company’s activities under the R&D Tax Incentive. It operates similar to a private ruling request and has the intention to provide certainty for companies. Similarly, an Overseas Finding is a binding decision that relates to overseas activities and expenditure. There are specific rules surrounding the inclusion of overseas expenditure within a company’s Australian R&D Tax Claim. A company must seek approval to claim the overseas […]

Read More

Deferred Franking Debits

March 16th, 2014

Does the R&D refundable tax offset generate a franking debit in my franking account? Generally, a franking debit arises in your entity’s franking account when you receive a refund of income tax which includes a refunded amount from a tax offset. However, special rules ensure that the amount of R&D tax offset refunded is not immediately reduced as a result of the entity becoming liable to franking deficit tax. The franking debit that usually arises when a refund of income […]

Read More

Deductibility of R&D Expenditure Under Other Provisions

March 16th, 2014

If an amount is eligible to be claimed under the R&D tax incentive, you must claim it under Division 355 of the Income Tax Assessment Act 1997 (ITAA 1997). The answer to the frequently asked question explains this rule further. I have registered my R&D activities but want to claim some of the expenditure on those activities under section 8-1 of the ITAA 1997. Can I do this? No. Amounts incurred on your registered R&D activities must be claimed under […]

Read More

Payment to Associates

March 16th, 2014

R&D entities are only eligible for a R&D Tax offset for R&D expenditure incurred by an associate entity if the expenditure has been paid during the claim period. If you incur an amount of expenditure to an associate and you pay the amount in the same year, you can include this amount when working out your R&D tax offset in that year (if you meet all other eligibility requirements for the R&D tax incentive). Paying an amount to an associate […]

Read More

Bryce Steele
Principal, Melbourne
Tel: (03) 9018 5778
Mob: 0401 997 584
Tom Parkhouse
Principal, Sydney
Tel: (02) 8006 0559
Mob: 0411 718 565
Andy Nguyen
Principal, Brisbane
Tel: (07) 3221 1499
Mob: 0407 750 249
Sophie Mercer
Principal, Adelaide
Tel: (08) 8121 7850
Mob: 0435 713 493
David Greatwich
Principal, Perth
Tel: (08) 9340 3745
Mob: 0468 386 250
Myriam Risch
Manager, Hobart
Tel: (03) 9018 5778
Mob: 0401 262 591

Categories

Archives

Email this job