Swanson Reed News

Hadrian Fraval Nominees Pty Ltd and FCT [2013] AATA 127

April 22nd, 2013

The Australian Taxation Office (ATO) recently drew specific attention to the case of Hadrian Fraval Nominees Pty Ltd v Commissioner of Taxation in its Large Business Bulletin released in September 2013. Facts The Tribunal affirmed the Commissioner’s decision that Hadrian Fraval Nominees Pty Ltd (HFN) was not entitled to claim the R&D Tax Concession for the 2004 year, and in the 2005 year HFN was entitled to an amount significantly less than was claimed.  As a result, the AAT imposed penalties at the […]

Read More

Are You Prepared for an AusIndustry Audit?

April 19th, 2013

Receiving an AusIndustry ‘Request for Further Information’ (or RFI) can be a daunting thing. The important thing to remember that all companies at some point in time will be monitored through the AusIndustry Compliance Continuum. The RFI is just one of the way’s for AusIndustry gather information for this purpose, so there is no need to panic. As the R&D Tax Incentive is a self-assessed claim, AusIndustry issues RFIs to ensure that all companies claiming the incentive remain accountable for […]

Read More

New Quarterly R&D Tax Credits for cash-strapped SMEs released

April 17th, 2013

From 1 January 2014, the R&D quarterly credits regime will be a new option for small cash-strapped companies wishing to claim under the R&D tax incentive. On Monday, Treasury released its proposed workings of the regime. It will allow companies eligible for the R&D refundable tax offset to obtain the benefit of the offset on a quarterly basis during an income year, rather than waiting until an income tax return is assessed.   Are you eligible for quarterly credits? To qualify for […]

Read More

R&D Tax 2012 Lodgement Deadline: Information for Companies

April 12th, 2013

30 April 2013 is the lodgement deadline for companies wishing to claim eligible R&D tax 2012 year under the new R&D Tax Incentive. Companies planning to submit 2012 claims should be compiling submissions NOW to ensure Applications are prepared to an adequate standard. Below are some key issues companies and their tax agents should be mindful of for 2012 R&D claims under the new Incentive: The base rate of recoupment has increased to provide tax savings of $0.15 and $0.10 for companies […]

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