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December, 2024

Federal court matter (December 2024) declares that respondent was a promoter of a tax exploitation scheme to secure R&D Tax Offset.

December 16th, 2024

A federal court case with judgement dated 16 December 2024 (with The Commissioner of Taxation as the Applicant and a number of parties as Respondents) has declared that respondents were promoters of tax exploitation schemes to secure R&D tax offsets pursuant to Division 355 of the Income Tax Assessment Act 1997 (Cth) for a number of companies. Very large penalties have been levied in the case and the liquidations of two entities listed as respondents were noted in the judgement as being on hold pending the outcome of […]

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Real Energy Corporation Limited provides update on the status of Innovation Australia R&D Dispute

March 16th, 2020

Within its recently released half yearly report, Real Energy Corporation Limited (ASX: RLE) has provided an update on the status of the company’s dispute with AusIndustry/ISA over eligibility of its R&D Activities; The company had previously received an adverse finding for the company’s R&D Tax Registrations during the FY14, FY15 and FY16 periods, with corresponding tax offsets in dispute totalling around $7.2M. Further potential unpaid R&D Tax offsets of around $6.5M are at stake for the FY17 to FY19 periods […]

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