Swanson Reed News

What Does an R&D Tax Incentive Audit Involve?

April 6th, 2016

Undeniably, the research and development (R&D) tax incentive can result in very significant cash refunds for a business which can drive its future revenue growth. However, as the R&D Tax Incentive is a self-assessed claim, AusIndustry issues ‘Request for Further Information’ (RFIs) to ensure that all companies claiming the incentive remain accountable for their claims. Therefore, because of this “self-assessment” process, it is important that you understand the compliance requirements. Moreover, the ATO has recently stated that they are working […]

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A Snapshot of the R&D Tax Incentive

April 5th, 2016

With the 30 April deadline to register fast approaching, firms need to review their eligibility and start working on their application as soon as possible, or risk missing out. In light of this, we’ve provided a snapshot of the program and the eligibility requirements. The research and development (R&D) tax incentive came into effect on 1st July 2011 and encourages companies to engage in R&D by providing a tax offset for eligible R&D activities. The program is administered jointly by […]

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The Impact of Fiscal Policy: IMF Predicts a 80-Fold Return from Budget R&D Spend

April 1st, 2016

Indeed, the notion that Research and Development (R&D) makes an immense impact to innovation and competitiveness is prevalent among economists and politicians. Without a doubt, governments play a crucial role in promoting higher education and basic research. However, fiscal policies and funding incentives are also vital to nurture private R&D investment too. In fact, a recent study by International Monetary Fund (IMF) reveals that Australia’s economy could increase by an extra $80 billion if the government spent an extra $1 […]

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One Month Left Till the R&D Tax Incentive Deadline: What Do You Need To Do Claim?

March 31st, 2016

With the deadline for claiming the R&D tax incentive looming on April 30, companies must act quickly to ensure they don’t miss out on potentially significant tax benefits. In essence, any Australian firm developing or improving products, processes, or software, may be eligible. However, as at June 2014, fewer than 12,000 performing entities had registered for its benefits. This is particularly so as the R&D tax incentive is an often overlooked prospect for small and medium sized companies (SME) and start-ups, with many speciously believing […]

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Bryce Steele
Principal, Melbourne
Tom Parkhouse
Principal, Sydney
Andy Nguyen
Principal, Brisbane
Holly Parkinson
Manager, Adelaide
David Greatwich
Principal, Perth
Krishna Gungaram
Manager, Hobart

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