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July, 2025

A warning for companies using AI to assist with drafting their R&D Tax Incentive Applications

July 3rd, 2025

Businesses are increasingly leveraging Artificial Intelligence (AI) to streamline various tasks in a bid to achieve significant time savings and efficiency gains. However, when using AI to assist in the drafting of documents that present legal obligations (such as an R&D Application), care should be taken to ensure the information disclosed is correct. In recent months, we have observed a growing trend of companies using AI to assist with the collation of the initial draft content for their Research and […]

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Swanson Reed: Registered Tax Agent obligations and keeping clients informed

June 12th, 2025

SR Tax Services Pty Ltd (trading as Swanson Reed) is a registered tax agent (Registration number 03718008).   The Tax Practitioners Board (TPB) is the authority responsible for regulating Australia’s tax agents.   The Government package of reforms to strengthen the integrity of Australia’s tax system has presented additional compliance and disclosure requirements for tax agents which apply to Swanson Reed from July 2025. As part of these reforms, Swanson Reed has an obligation to keep parties informed on a […]

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Media reports of an alleged ‘false mining operation’ involving large claims for GST and R&D Tax Offset reviews

June 4th, 2025

One of the major national newspapers has this week posted an article about a private group alleged to have operated a ‘false mining operation’ that led to the generation of substantial refunds for GST and Refundable R&D Tax Offset credits. Swanson Reed does not know specifics of this case other than what has been reported in the media and in the Federal Court’s published freezing and ancillary orders. The Federal Court order notes: “The Companies collectively claimed and received GST refunds and R&D offsets totalling […]

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30 April 2025 Statutory Deadline for FY24 R&D Claims

April 28th, 2025

The deadline for FY24 R&D Registrations is on Wednesday, 30 April 2025. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2024 (companies that have a Standard YE for tax) who are yet to do so should note that the Registration Deadline is 10 Months after YE, and is 30 APRIL 2025. Extensions of time may be available in certain situations, and extension applications lodged BEFORE the original deadline are viewed much more favorably. However recent changes place a limit […]

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