Swanson Reed welcomes ‘The Coalition’s Policy to Boost the Competitiveness of Australian Manufacturing’ with its support for a “new approach” to manufacturing and policy improvements to the R&D Tax Incentive. Tony Abbot and the Coalition has placed a completely different emphasis on the importance of increased commercial R&D in Australia than that of the Labor Government. In 2014, the Coalition plans to make changes to the R&D Tax Incentive program, including: A review of businesses over $20 Billion turnover program […]
30 April 2013 is the lodgement deadline for companies wishing to claim eligible R&D tax 2012 year under the new R&D Tax Incentive. Companies planning to submit 2012 claims should be compiling submissions NOW to ensure Applications are prepared to an adequate standard. Below are some key issues companies and their tax agents should be mindful of for 2012 R&D claims under the new Incentive: The base rate of recoupment has increased to provide tax savings of $0.15 and $0.10 for companies […]
Melbourne company Prana Biotechnology has announced it has received a R&D Tax Incentive of A$2.5 million to support its scientific focus upon neurological diseases, particularly Alzheimer‘s, Parkinson‘s and Huntington‘s diseases. The payment is part of approximately A$5.8 million which is expected to be received for the 2011-12 and 2012-13 financial years. “This Australian Government funded program is commendable because it provides significant amounts of non-dilutive cash to support our ongoing research activities.” commented Geoffrey Kempler, Prana’s Chairman and CEO.