Swanson Reed News

Is Aus R&D Incentive holding back ICT startups?

March 11th, 2014

A recent report by the Australian Information Industry Association (AIIA) has warned of the risks regarding innovation in the Australian ICT sector if the government fails to foster growth in more technology startups. In the AIIA’s “SmartICT 2014: A vision for sustained national prosperity” report released 4 March 2014, the AIIA highlighted Australia’s tax rules, particularly in relation to the R&D Tax Incentive, as being a major problem holding back the nation’s ICT industry. The AIIA report stated “Requirements in […]

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Bartercard Australia Pty Ltd and Commissioner of Taxation [2010] AATA 1058

March 10th, 2014

Regarding the matter of Bartercard Australia and Commissioner of Taxation, the Administrative Appeals Tribunal (AAT) assessed what classified as income for Bartercard under the Income Tax Assessment (ITA) Act 1997 and whether expenditure by Bartercard on R&D was deductible under the special rules in s. 73B of the ITA Act 1936. Background: Bartercard received payments from terminating members in the total sum of $711,053.31 for the year ended 30 June 2002 and total $623,532.06 for the year ended 30 June […]

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HZXD and Innovation Australia [2010] AATA 879

March 7th, 2014

In the matter of HZXD and Innovation Australia, the Administrative Appeals Tribunal (AAT) reviewed the decision of Innovation Australia that a biometric project developed by HZXD did not satisfy the definition of R&D as defined in s. 73B (1) of the Income Tax Assessment (ITA) Act 1936. Background: The applicant, a company, as part of their income tax return had made a claim under the R&D Tax concession for their project entitled “Development of Face Recognition Car Parking ASP System”. […]

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Commissioner of Taxation and Zoffanies Pty Ltd [2002] AATA 758

March 6th, 2014

This matter concerns an application made by Zoffanies to the Administrative Appeals Tribunal (AAT) for the review of a decision of the Commissioner of Taxation to disallow Zoffanies objection against an Income Tax Assessment for the Substituted Accounting Period ending on 30 September 1992 (in lieu of the year ending on 30 June 1992). Background: Zoffanies, a subsidiary company of Macquarie Bank Ltd, claimed it was entitled to an allowable deduction of $109,947 which was part of a loss of […]

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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

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