The Turnbull government is focusing on crowdfunding as a top priority and investing in innovation to move the Australian economy forward. In a recent report by the IMD World Competitiveness Yearbook measuring the global competitiveness of 61 countries, Australia descended to a rank of 18 — indicating a concerning decline over the last five years. Thus, our ability to innovate and cultivate a resourceful workplace is becoming more vital as our economy shifts away from the traditional mining and […]
Summary of 104 106 689 matter Taxation Ruling – TR2013/3 Click Here GHP 104 160 689 Pty Ltd v. Commissioner of Taxation Click Here Decision Impact Statement – GHP 104 160 689 Pty Ltd Click Here *This must be read in conjunction with the original Taxation Ruling – TR2013/3 Following the AAT decision in GHP 104 160 689 Pty Ltd v. Commissioner of Taxation, an amendment has been made to the Taxation ruling TR 2013/3 to remove the discussion on […]
A government review of the research and development (R&D) tax incentive program is set to be carried out by the Centre for International Economics. The Centre for International Economics (CIE) has been engaged to provide independent advice to the Review of the R&D Tax Incentive programme. The review is aimed at enabling mid-sized businesses to provide feedback on the value of innovation incentives to remain competitive in a global economy. The Review is interested in canvassing a broad variety of […]
Australian biotech company CSL is calling for a lower advanced manufacturing tax rate. Last year the company decided to build a $500 million plant in Switzerland over Australia due to factors such as proximity to market, availability of staff, market experience and, specifically, a lower corporate tax rate within the country. CSL’s chief financial officer, Gordon Naylor, acknowledges tax is not the only deterrent to doing more in Australia, he says it’s a central element. That’s why CSL is pushing […]