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Industry Specific Issues

Increased R&D Funding for the Beef Industry

September 8th, 2016

Upping Investment Funding MLA (Meat & Livestock Australia) released plans to increase investment funding in R&D by about AU$100,000 more than the previous year in support of the innovation and development of the grain-fed and grass-fed beef industry sectors. Of this AU$12.7 million, approximately AU$7 million will be focused on research and development (R&D) while the remaining funds will put towards marketing campaigns for both grass and grain fed stocks. Competitive Advantage In Global Meat News, the point was made that as […]

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Is Innovation Growth Suffering in Australia?

August 22nd, 2016

During the 2016 Australian Financial Review innovation summit this past week, Dr. Alan Finkel Australia’s chief scientist, spoke to the imbalance of government spending on innovation. Business Insider quoted Dr. Finkel saying, “If science turns money into knowledge – then innovation turns knowledge back into money, and generally a lot more money than the taxpayers put in.” While referring to the potential gains of innovation investment from the government, the Doctor proceeded to share a shocking statistic that industry leaders […]

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R&D Tax – Important 30 June Planning for Companies

June 23rd, 2016

The following R&D tax claim information will apply to companies that: have recently submitted a 2015 R&D claim; and intend to submit a 2016 R&D Claim. Upcoming AusIndustry Compliance Activity Over the next few months, AusIndustry will likely start compliance activity for FY15 applications that were lodged around the April 30 deadline. If reviewed, companies claiming the R&D Tax Incentive must substantiate to AusIndustry that: the registered activities occurred; and the claimed activities were in accordance with the R&D Tax legislation. […]

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The Importance of Risk When Claiming the R&D Tax Incentive

May 23rd, 2016

Undeniably, organisations’ innovation activities tend to have higher risk profiles than other pursuits and require different methods for measuring value. The constant need for innovation, change and renewal are business imperatives that cannot be ignored or avoided by any organisation for any sustained period. In fact, the risks associated with an organisation not making changes to products, internal processes or business models over time are equally significant, leading to extinction and irrelevance if unchecked. However, it is an often overlooked […]

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