The following R&D tax claim information will apply to companies that: have recently submitted a 2014 R&D claim; and intend to submit a 2015 R&D Claim. Upcoming AusIndustry Compliance Activity Over the next few months, AusIndustry will likely start compliance activity for FY14 applications that were lodged around the April 30 deadline. If reviewed, companies claiming the R&D Tax Incentive must substantiate to AusIndustry that: the registered activities occurred; and the claimed activities were in accordance with the R&D Tax […]
30 April 2015 is the deadline to claim the R&D Tax Incentive for eligible activities conducted during the year ended 30 June 2014 (ie last financial year). Any companies still seeking to lodge FY14 claims should take action ASAP to ensure their activities are adequately assessed and described within their registration applications. This includes the need to provide detail of: The specific Core experimental activities undertaken during FY14; Observations and conclusions of the experimental activities; Why knowledge gained from the experimental activities is new; How […]
Summary of 104 160 689 matter Taxation Ruling – TR2013/3 Click Here Taxation Ruling: TR 2013/3A1 – Addendum Click Here GHP 104 160 689 Pty Ltd v. Commissioner of Taxation Click Here The ATO has issued a Decision Impact Statement in relation to the recent decision handed down in the AAT, GHP 104 160 689 Pty Ltd and FCT [2014] AATA 515; 2014 ATC 10-373 The case concerned whether certain expenditure was to be disallowed deductibility at the rate of […]
Today, Swanson Reed officially launched, TaxTrex – a cloud based software solution designed to help accountants and their clients become experts in the R&D Tax Incentive. TaxTrex is Australia’s first platform to bridge the gap between the R&D tax adviser, the tax agent, and their client. Why use TaxTrex? TaxTrex allows the company’s external accountant to prepare R&D claims with little or no risk. FACT: 82% of accountants think that preparing R&D claims without specialist help is too risky. FACT: 75% of eligible small businesses could claim […]