Swanson Reed News

R&D Tax claim for companies before 30 June

June 24th, 2014

For information about upcoming requirements for June year end companies, please click here. Eligibility Checklist: Are you Eligible to claim the R&D Tax Incentive? Check out our Eligibility Wizard to find out. Audit Checklist: Can you handle an AusIndustry Audit?  Take our questionnaire to find out.

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2014 Budget Update: Minor Reduction in R&D Tax Offset – Grant Funding Abolished

May 14th, 2014

Announced in the recent Federal Budget was the Government’s plan to raise over $1 Billion by cutting funding to the R&D Tax Incentive and a range of grants. The savings from these measures will be redirected to repair the Budget and fund policy priorities. Proposed Reduction to the R&D Tax Incentive The R&D Tax Incentive operates whereby a company forfeits a general income tax deduction for their R&D expenditure in exchange for a turnover determined R&D Tax Offset. The permanent […]

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Commission Audit targeted by agricultural R&D

May 13th, 2014

The Commission Audit report, which examined Australian Government finances, has recommended that public funding of agricultural R&D in Australia be significantly reduced. The recommendations made by the report suggested that the amount of government funding be reduced to better reflect the mix of private and public benefits. It was suggested that the current cap on dollar for dollar matching of industry contributions by the government (which is currently set at 0.5 percent of gross value of production) should be halved […]

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Budget tax cuts advocated by Aus Industry Group

May 13th, 2014

According to surveys conducted by the Australian Industry Group, 70 per cent of the 364 businesses surveyed said reducing the tax burden was one of their top three priorities for the Budget. Increasing spending on infrastructure and calling for the Government to bring the Budget into balance over the next five years were also ranked as high priorities. Among the business community there were high priorities placed on increasing the spending on training and apprentices and raising tax incentives for […]

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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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