Swanson Reed News

TD 2014/15 Income tax: when is Design Expenditure incurred by an R&D entity included in the first element of the cost of a tangible depreciating asset for the purposes of paragraph 355-225(1)(b) of the Income Tax Assessment Act 1997 (and therefore not able to be deducted under section 355-205)?

August 19th, 2014

This Taxation Determination is concerned with where an R&D entity 1 incurs expenditure on various stages of design activities ( Design Expenditure ), connected with it beginning to hold a tangible depreciating asset, where that expenditure also falls within the terms of section 355- 205.2 This expenditure will typically be incurred in cases where the R&D entity is constructing the asset itself, or having another entity construct it on its behalf, as distinct from acquiring the asset ‘off the shelf’. […]

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TR 2013/3 Income tax: research and development tax offsets: feedstock adjustments

August 19th, 2014

Summary of 104 160 689 matter Taxation Ruling: TR 2013/3A1 – Addendum Click Here  GHP 104 160 689 Pty Ltd v. Commissioner of Taxation Click Here Decision Impact Statement – GHP 104 160 689 Pty Ltd Click Here *This must be read in conjunction with Taxation Ruling: TR 2013/3A1 – Addendum Paragraph 355-465(1)(a) sets out the first condition for a feedstock adjustment to arise. This paragraph refers to three tests that must be satisfied for the first condition to be […]

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ATO ID 2014/11 Income Tax Research and Development: building expenditure

August 19th, 2014

Does the exclusion for ‘expenditure incurred in the acquisition or construction of a building’ in the definition of ‘research and development expenditure’ in subsection 73B(1) of the Income Tax Assessment Act 1936 (ITAA 1936) only include structural elements that form the building? No. ‘Building’ for the purposes of subsection 73B(1) of the ITAA 1936 also includes ‘a part of’ a building. For this purpose, ‘a part of’ a building takes on its ordinary meaning and refers to structural components of a building […]

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ATO ID 2013/12 Income Tax Research and Development: transitional substituted accounting period (SAP) access to research and development tax incentive

August 19th, 2014

Is a transitional substituted accounting period (SAP) of less than 12 months that commences on or after 1 July 2011, for which an assessment is issued under section 168 of the Income Tax Assessment Act 1936 (ITAA 1936), an ‘income year’ to which Part 1 of Schedule 4 of the Tax Laws Amendment (Research and Development) Act 2011 (the R&D Act) applies, for the purposes of Division 355 of the Income Tax Assessment Act 1997 (ITAA 1997)? Yes. A transitional SAP year of less than 12 […]

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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: 0411 718 565
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
Sarah Guan
Manager, Hobart
Tel: (03) 9018 5778
Mob: 0401 262 591

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