AusIndustry Guidance and Materials

New Guidance Relating to Feedstock Adjustments

February 9th, 2015

AusIndustry and the ATO have recently released joint guidance in relation to the calculation and disclosure of feedstock adjustments. The guidance clarifies that companies are able to “opt out” of claiming feedstock inputs if the benefit arising from claiming feedstock inputs as R&D expenditure is not commensurate with the compliance requirements for the corresponding feedstock adjustment. When claiming the R&D Tax Incentive, a company is required to make a feedstock adjustment if it supplies or uses products produced during its R&D activities. […]

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Budget tax cuts advocated by Aus Industry Group

May 13th, 2014

According to surveys conducted by the Australian Industry Group, 70 per cent of the 364 businesses surveyed said reducing the tax burden was one of their top three priorities for the Budget. Increasing spending on infrastructure and calling for the Government to bring the Budget into balance over the next five years were also ranked as high priorities. Among the business community there were high priorities placed on increasing the spending on training and apprentices and raising tax incentives for […]

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Important changes to AusIndustry’s r&d activites form

October 20th, 2013

Last week, AusIndustry released version 5 of the R&D activities form. The application now requires more information from the Applicant regarding the nature of core and supporting activities alongside additional administrative information. Whilst the new requirements will require more time and input to complete, Swanson Reed views the changes as positive since Applicants must explicitly assert how their activities are eligible under the legislation. Swanson Reed recommends that all applicants spend sufficient time addressing the requirements of the expanded application […]

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AusIndustry R&D Tax Incentive Workshops

May 8th, 2013

The R&D Tax Incentive provides targeted, generous and easy to access support for eligible R&D activity. Companies are able to register and claim the new R&D Tax Incentive benefit from 1 July 2012. AusIndustry is holding registration ready workshops to help SME’s, first time registrants and smaller consultants/ tax agents better understand and register for the R&D Tax Incentive. The workshops aim to provide an overview of the program covering the following: general knowledge and benefits of the program the program’s eligibility […]

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