Swanson Reed News

New Quarterly R&D Tax Credits for cash-strapped SMEs released

April 17th, 2013

From 1 January 2014, the R&D quarterly credits regime will be a new option for small cash-strapped companies wishing to claim under the R&D tax incentive. On Monday, Treasury released its proposed workings of the regime. It will allow companies eligible for the R&D refundable tax offset to obtain the benefit of the offset on a quarterly basis during an income year, rather than waiting until an income tax return is assessed.   Are you eligible for quarterly credits? To qualify for […]

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R&D Tax 2012 Lodgement Deadline: Information for Companies

April 12th, 2013

30 April 2013 is the lodgement deadline for companies wishing to claim eligible R&D tax 2012 year under the new R&D Tax Incentive. Companies planning to submit 2012 claims should be compiling submissions NOW to ensure Applications are prepared to an adequate standard. Below are some key issues companies and their tax agents should be mindful of for 2012 R&D claims under the new Incentive: The base rate of recoupment has increased to provide tax savings of $0.15 and $0.10 for companies […]

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HURRY! – 18 DAYS UNTIL R&D TAX INCENTIVES DEADLINE

April 11th, 2013

The April 30 R&D Tax Incentive deadline (for June balancing companies) is fast approaching and companies must ensure they register all R&D activities to be eligible for the 43.5% refundable tax offset. The program is open to firms of all sizes in all sectors who are conducting eligible R&D. If your company has an aggregated turnover of less than $20 million per annum you could be entitled to the cash refund of 43.5% of all eligible costs. Click on our eligibility […]

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Prana Biotechnology in Melbourne has received $5.8 million for clinical research for neurological diseases

April 10th, 2013

Melbourne company Prana Biotechnology has announced it has received a R&D Tax Incentive of A$2.5 million to support its scientific focus upon neurological diseases, particularly Alzheimer‘s, Parkinson‘s and Huntington‘s diseases. The payment is part of approximately A$5.8 million which is expected to be received for the 2011-12 and 2012-13 financial years. “This Australian Government funded program is commendable because it provides significant amounts of non-dilutive cash to support our ongoing research activities.” commented Geoffrey Kempler, Prana’s Chairman and CEO.

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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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