Swanson Reed News

National Reconstruction Fund Investment Mandate Published and Can Begin Investing

December 5th, 2023

Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstruction Fund to make technology and local manufacturing investments a top priority.   Labor went on to win the election, and enacted the fund.   The objective of the NRF is to provide a financing vehicle to drive investment in projects seeking to build prosperity across the country, providing loans, guarantees and equity to support specific projects. […]

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High Court Denies Special Leave to the Commonwealth on Behalf of Employees

November 28th, 2023

Various laws determine the manner in which a company’s assets are distributed to employees and creditors in the event of an insolvency event. In a decision handed down by the New South Wales Supreme Court in 2022,  the order of priority of payments in a winding up where employee debts and secured creditor claims exist was considered. The matter was Spitfire Corporation Limited (in liquidation) and Aspirio Pty Ltd (in liquidation) [2022] NSWSC 340. The court considered whether Refundable R&D […]

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ATO Update Titled ‘R&D Tax Incentive: Future Focus’ and Upcoming Dual Agency Compliance Reviews

November 21st, 2023

Participants in the R&D Tax Incentive can expect a greater level of compliance activity soon. The ATO has published an update this month titled ‘R&D Tax Incentive: Future Focus’. The update announced a series of future-focused initiatives aimed at ensuring the integrity of the Research and Development Tax Incentive (R&DTI) program. The ATO update notes that the ATO will be collaborating with the Department of Industry, Science and Resources (DISR, or AusIndustry) as well as educating companies and R&D consultants […]

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R&D Tax Risk Reporting Within ATO Top 500 Program

November 13th, 2023

In November 2023, the ATO published information about the Top 500 program. The Top 500 program is one of several programs administered as part of the Tax Avoidance Taskforce. The objective of the Taskforce is to provide the Australian Government and the community with confidence that Australia’s largest public and private groups are paying the correct amount of tax. The Top 500 program model of engagement is designed as an invitation for Top 500 groups to be proactive in demonstrating […]

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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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