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Draft Taxation Determination TD 2013/D9 released by ATO for public comment

December 12th, 2013

Last week, the ATO released for public comment  draft Taxation Determination “Income tax: when will Design Expenditure incurred by an R&D entity be included in the cost of a tangible depreciating asset within paragraph 355-225(1)(b) of the Income Tax Assessment Act 1997 (and therefore not able to be deducted under section 355-205)?” Submissions are due by 24 January 2014. The draft Taxation Determination is concerned with situations where an R&D entity incurs expenditure on various stages of design activities, connected with it […]

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Desalination Technology Pty Ltd v Commissioner of Taxation [2013] AATA 846

December 11th, 2013

Federal Court Decision – FCT v  Desalination Technology Pty Ltd Click Here Full Federal Court Decision – FCT v Desalination Technology Click Here This article is about the original Administrative Appeals Tribunal decision on matters of fact.  Please click here if you would like to access the Federal Court Appeal. In the matter of Desalination Technology Pty Ltd and Commissioner of Taxation [2013] AATA 846 (29 November 2013) (DST), the Administrative Appeals Tribunal (AAT) assessed whether the taxpayer was eligible for […]

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R&D tax exclusions are referred to Senate

December 11th, 2013

The newly proposed section 355-103 ITAA1997, providing an exception for large business in claiming the R&D Tax exclusions are referred to senate for further inquiry. The Tax Laws Amendment (Research & Development) Bill 2013 passed the lower house only days ago, but will be fully investigated by the Senate for economic impact. A report of the inquiry findings is expected on 17 March 2014. As of yesterday, the ALP has indicated it may withdraw its support for this measure over […]

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Ozone Manufacturing vs Commissioner of Taxation: Lessons in good record-keeping [2013] AATA 420

November 19th, 2013

In the case of Ozone Manufacturing Pty Ltd v Commissioner of Taxation, the Administrative Appeals Tribunal has affirmed the Commissioner’s decision to refuse a taxpayer’s claim for a tax offset under s 73I ITAA 1936 for the 2001-2002 tax offset year. Background In 2002, the company registered its R&D activities with”AusIndustry. In its 2001-02 tax return, the taxpayer included an election to claim an R&D tax offset of $388,601. Following a tax audit, the Commissioner issued a notice under s 73IA of […]

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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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