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Swanson Reed in InnovationAus Article on state of R&D Tax Compliance

August 26th, 2021

InnovationAus has this week published an article including comments from Swanson Reed regarding the state of R&D tax compliance, particularly for projects involving software development activity. The article comes following a turbulent period in the R&D Tax Incentive, including: Multiple proposed and eventually passed amendments to the legislation underpinning the R&D Tax Incentive; A widely reported crackdown on claims involving software development during the period 2017 to 2019. Airtasker’s R&D tax dispute for FY15 and FY16 being the most publicised […]

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Airtasker Provide R&D Tax Update in FY21 results: Some years remain in dispute, have continued to register for subsequent years

August 19th, 2021

Airtasker has 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 completed a successful IPO, and has provided an update to […]

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NSW State Government Offers R&D Fund and New Tech Vouchers

August 10th, 2021

The NSW State Government has recently announced new initiatives relevant to companies conducting R&D activity: A $6 million R&D fund will target innovative products that have been developed by NSW businesses. Proposals to scale R&D products will be assessed by a panel of judges with expertise in commercialisation, venture capital, academia, government and industry; A COVID-19 edition of TechVouchers, valued up to $25,000 and $50,000 per business, will be provided to businesses to access expertise and equipment in NSW, through […]

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Swanson Reed in August Tax Institute Journal

August 5th, 2021

A feature article by Swanson Reed is included in the August 2021 volume of The Tax Institute’s Taxation in Australia. Swanson Reed’s article covers the legislative passage of the recent changes to the R&D tax law, along with a technical analysis of the amendments. Taxation in Australia is continually ranked as Australia’s leading tax journal and is published 11 times per year, available exclusively to members of the Tax Institute.     Take our online eligibility test to check whether your […]

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