Home » News » March 2025

March, 2025

Treasurer Ed Husic’s Comments on R&D Tax Policy ahead of March 25 Federal Budget

March 18th, 2025

Due to the timing of the upcoming Federal election, the 2025 Federal budget will be held on Tuesday 25 March 2025, which is earlier than the traditional May timeslot. It is probably unexpected that there will be any R&D Tax Incentive changes announced in the March 25 Federal budget given that: There was a material change announced only recently in the December 2024 MYEFO, which announced exclusion of R&D activities related to gambling and tobacco from eligibility for income years starting on or after […]

Read More

Statutory Deadline for FY24 R&D Claims is next month

March 3rd, 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 30 APRIL 2025. The blanket and automatic extensions granted during COVID do NOT apply any longer or for FY24 claims. 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 […]

Read More

Potential Impact of Incoming US Government on Australian Business and R&D Tax Policy

January 20th, 2025

Following the US election in 2024, a new Government will be installed in the US during January 2025. The impact of the new Trump Government on US R&D and tax policy is not immediately clear, and it may impact some industries differently to others. Possible impacts may include: there will be a clear push to favor US based manufacturing via tax and tariff measures; media commentary notes that the incoming US president is expected to reduce support for research on the environment […]

Read More

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 […]

Read More

Categories

Archives