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ATO Guidance and Materials
Joint AusIndustry and ATO information Sessions in November
October 30th, 2023AusIndustry have announced that in early November they will be conducting a joint event with the ATO to provide introductory level information regarding the R&D Tax Incentive. The sessions are noted as covering: The benefits offered by the R&D Tax Incentive; Who can apply; What R&D activities and expenditure are eligible; The importance of record keeping; When and how to apply. Information for registration to attend the session is available on the AusIndustry website. Please get in touch with our office if you would […]
ATO Release Information Around Public Disclosure of R&D Claimant Information
October 23rd, 2023In a significant shift in administration, the Australian Taxation Office (ATO) has this month published information around publication of Research and Development (R&D) expenditure claimant information. This move forms part of the administration changes to the Research and Development Tax Incentive (R&DTI) program initiated on 1st July 2021, which arose out of the previous government’s major reforms to the R&D Tax Incentive which passed with bipartisan support in October 2020. The rationale behind the change is to enhance transparency and accountability. […]
AFR reports high profile ASX listed Software Company Subject to ATO Review of R&D Tax Offsets
October 18th, 2023The AFR has reported in late September 2023, that officials from the Australian Taxation Office visited a high profile ASX listed software development company last month as part of inquiries about whether the group inappropriately claimed R&D Tax Offsets. The article seems to suggest that the issue may relate to overclaiming of expenditure on R&D Activities conducted overseas (as opposed to whether the expenditure or activity meet the general R&D Tax Incentive criteria). Under the R&D Tax Incentive, companies […]
Finalised Tax Determination on Aggregated Turnover and Connected Entities – Commissioner’s Discretion That an Entity Does Not ‘Control’ Another Entity
October 11th, 2023After previously issuing a draft ruling in June 2023, the ATO in September 2023 has now finalised and published Tax Determination TD 2023/5 on aggregated turnover and connected entities – Commissioner’s discretion that an entity does not ‘control’ another entity. Under the R&D Tax Incentive a company’s rate of R&D tax offset and whether it is refundable or not depends primarily on the R&D entity’s aggregated turnover: If an entity’s aggregated turnover is less than $20 million and it is not controlled […]
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Daniel McGregor2022-08-11I have been using Swanson Reed for my clients for more than a decade. Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients. Highly recommended.
John2022-06-15Damian and the rest of the team at Swanson Reed have been supporting us for several years. We always appreciate their insights, expertise, and efforts.
Rueben Rajasingam2022-06-06Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.
Enrique Esquivel2022-06-06Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
Jess at Y&C2022-06-03
Anatole Kononewsky2022-06-02The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
Payam Toloo2022-06-02Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.
Melissa Doddy2022-05-31The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end. Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
Gary Watson2022-05-31We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.
Rob van den Bergh2022-05-31Always professional.
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News & Research
News & Research
News & ResearchThe matter concerns an individual charged by the Commonwealth DPP for attempting to unlawfully obtain a refund under the R&D Tax Incentive. Before being charged, the taxpayer was compulsorily examined by the ATO. The individual had applied to stay the […]
2023 Annual Report for IISA: Update on R&D Tax Legal matters and litigation
Industry Innovation and Science Australia (IISA) is the government department responsible for determining whether companies’ activities meet the legislative criteria eligible under the R&D Tax Incentive. The 2022-23 Annual Report for IISA was recently released, and a section of the […]
