The arrangements of certain building and construction industry participants that are claiming the R&D Tax Incentive are being reviewed by the ATO and AusIndustry.The arrangements under review concern R&D claimants who are involved in either: Acquiring buildings or extensions Alterations or improvements Constructing, extending, altering or improving buildings. The review applies for instances where some or all of the expenditure: Is incurred on building and construction activities, which are expressly excluded from being taken into account in calculating an R&D […]
In October 2016, Ford Australia permanently ended local manufacturing in Australia which consequently terminated the employment of 580 workers. Ford had been manufacturing locally for 91 years prior to this decision. In 2017, following from this decision, Ford transformed what was previously the Australian head office into the Asia Pacific Product and Development Centre. This newly created facility is the central hub for research and development, driving the innovation of products and mobility solutions, and producing state-of-the-art virtual design and […]
Australia is home to some of the most prestige grapevines, with the Australian Shiraz being one of the oldest in the world. It holds unquestionable value and relevance to the success of Australia’s wine industry. In recognition of the significance which the Australian wine industry holds, a six year R&D invests worth $5.3 Million has been announced by Wine Australia. The announced R&D initiatives intends to utilise the country’s unique and natural resources, with hope to uncover further understanding of Australia’s […]
Swanson Reed invites you to attend The Tax Institute’s 2017 Property and Construction seminar. Damian Smyth, Principal, and Gloria Lim, Senior Manager, will be presenting an informative session discussing R&D tax incentive issues relevant to the construction industry. About the event The Tax Institute 2017 Property & Construction intensive is the essential professional development seminar for in-house finance and tax resources and tax practitioners that have exposure to the property and construction industries. Now extended to two full days of sessions, this popular […]