Seminar Invitation: Pitfalls for SMEs in protecting and claiming incentives for new developments

Record Penalty Imposed for Promotion of Schemes Involving R&D Tax Incentive

The Federal Court has imposed a record penalty of $22.68M on Mr Paul Enzo Bogiatto and his associated companies for a contravention of promoter penalty involving tax exploitation schemes relating to the R&D Tax Incentive between 2012 and 2015. Mr Bogiatto had previously been deregistered as a tax agent and member of Chartered Accountants Australia in relation to the matters. Various media outlets and Chartered Accountants disciplinary hearings surrounding the matter reported that: Mr Bogiatto would reach out to clients […]

Australian Investment Council Proposes Relaunch of R&D Tax Incentive in May Budget

The Government’s annual federal budget is traditionally delivered during May each year, however in 2020 it was deferred until October due to COVID. When the 2020 budget was finally handed down, it provided welcome news for the R&D Tax Incentive, since previously proposed budget cuts were replaced with alternate changes providing additional R&D tax benefits from FY22. The Government’s 2021 federal budget (potentially an election year budget) is due to be handed down in May 2021. InnovationAus has recently summarised […]