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March, 2025
March 2025 Federal Budget Update: No material R&D Tax Incentive changes, Strategic R&D Review still underway
March 26th, 2025Due to the timing of the upcoming Federal election, the 2025 Federal budget was held on on Tuesday 25 March 2025, which is earlier than the traditional May timeslot. Going into the budget, it was unexpected that there would be R&D Tax Incentive changes announced 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 1 July 2025; The Government […]
Statutory Deadline for FY24 R&D Claims is next month
March 3rd, 2025Companies 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 […]
Potential Impact of Incoming US Government on Australian Business and R&D Tax Policy
January 20th, 2025Following 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 […]
New Federal Court Decision re: Active Sports Management Pty Ltd finds R&D Activities not eligible
December 2nd, 2024An AAT decision handed down in December 2023 (Active Sports Management Pty Ltd and Industry Innovation and Science Australia) previously found that activities in respect of development of a customised basketball shoe were not eligible under the R&D Tax Incentive. It was found in the AAT case that, “none of the Claimed Activities were core R&D activities within the meaning of subsection 355-25(1) of the ITAA 1997..” ACTIVE SPORTS MANAGEMENT PTY LTD applied to the federal court to appeal the decision and the Federal […]
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Huge shoutout to Swanson Reed for being absolute pros at R&D tax advice! They made the whole process super easy and stress-free. The team really took the time to get what we do and helped us get the most out of our claim without any headaches. Everything was explained clearly, and they were always quick to answer any questions we had. Thanks to them, we got a great tax benefit that’s going to help us keep doing cool stuff. If you need help with R&D tax stuff, these are the people to go to. Seriously, they’re awesome!
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We have been working with Swanson Reed for 3 years now in preparing and lodging our company R&D Tax return with 100% success record. The team are very responsive and professional and particularly extremely knowledgeable. We can highly recommend them. Dr Mel Bridges, CEO & Chairman, Aptium.ai Pty Ltd.
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We refer all of our clients to Swanson Reed for their R&D refund work. The process is seamless and well-executed. Damian Smyth and the team are a pleasure to work with. Highly Recommend.
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News & Research
News & Research
News & ResearchDue to the timing of the upcoming Federal election, the 2025 Federal budget was held on on Tuesday 25 March 2025, which is earlier than the traditional May timeslot. Going into the budget, it was unexpected that there would be R&D Tax Incentive […]
Treasurer Ed Husic’s Comments on R&D Tax Policy ahead of March 25 Federal Budget
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 […]
