Australia’s medical technology industry has experienced significant growth over the past few years, with industry experts saying healthcare is a major area for digital disruption. In 2021, the medtech industry was investing $10 billion a year in Australia, up from around $300 billion in 2013, according to the New Daily. Whatsmore, 15 of the top 20 biotech companies have sales and revenue, which wasn’t the case 15 years ago. Whether the demand has been a long time coming with an […]
Airtasker had previously been associated with the “compliance crackdown” on R&D Tax Incentive Claims, particularly for software, after reports emerged in December 2018 that the company’s prior year claims were being disputed following ATO review. Airtasker’s dispute came around the time of other reported R&D tax disputes whereby companies such as CBA and Newcrest made disclosure of reduction to previously lodged self assessed R&D claims. Since this time, Airtasker has subsequently completed an ASX listing, and had provided an update […]
ASX Listed, Sydney based company Immutep Ltd (ASX:IMM) has recently announced on 23 September 2022 that it has received a €1,804,341 (around A$2,693,000) payment in cash from the French Government under its Crédit d’Impôt Recherche scheme (CIR). A similar magnitude payment was received in the previous years. The payment relates to activity the company is conducting in Paris to develop its novel Immunotherapy treatments. Immutep Ltd also registers activities under the Australian R&D Tax Incentive. Whilst there is likely to […]
A recent AAT Decision handed down in July 2022 (Absolute Vision Technologies Pty Limited and Innovation and Science Australia (Taxation)) has found a company’s software development activities were not eligible under the R&D Tax Incentive. Prior to this decision, there was only a limited number of previous decisions on Software R&D Eligibility heard by the courts and AAT. The company had registered R&D Activities with AusIndustry for a number of years with the objective of the project being: …to evolve […]