Swanson Reed’s initial analysis of the R&D announcements in May 2026 are summarised here. After we considered these proposed changes in greater detail, we are particularly alarmed about a proposed change announced in the Budget to the R&D Tax Incentive that we feel has not been communicated well nor understood by those whom it may impact… We fear the announced proposal to limit access to the Refundable R&D Tax Offset to firms operating less than ten years will be determined based on an […]
Over recent months, a number of companies have reported to the ASX receipt of substantial Refundable R&D Tax Offsets. Notable receipts include: Recce Pharmaceuticals (ASX: RCE) received $5.34 M related to its anti-infective platform; Race Oncology (ASX:RAC) received $2.8M related to its cancer treatments; Ecograf (ASX: EGR) received $1.7M related to its EcoGraf HFfree proprietary purification technology; Chimeric Therapeutics (ASX: CHM) received $4.5M related to its cancer treatments; Elixir Energy (ASX: EXR) received $3.8M related to its unconventional gas project […]
Some key events impacting Australia’s R&D Tax Incentive over the past 12 months during calendar year 2025 included: The release of proposed legislation to exclude gambling and tobacco companies from eligibility under the R&D Tax Incentive; The strategic examination and review of Australia’s Research and Development (R&D) system progressed and released a discussion paper on R&D Incentives that contained some significant potential changes for consideration. Swanson Reed made a submission to both the general review and the discussion paper on R&D Incentives; A new R&D Tax Incentive registration […]
One of the best performing stocks on the ASX over the past few years has been Sydney based DroneShield Ltd which has seen the stock price rise from approximately $0.20 in September 2022 to $3.20 in September 2025. DroneShield Ltd has become a world-leading Australian developer of AI-powered counter-drone and electronic warfare solutions, and has recently announced a number of substantial contracts with international governments amid an environment of increased government expenditure on defence. In addition to its warfare solutions, […]