Swanson Reed News

AAT decision on tax agent’s termination by TPB for failure to receive R&D advice before lodging ITRs

December 14th, 2022

A recent AAT decision published in November 2022 involved the case of a tax agent and firm (the Applicants), which ran a medium sized practice with approximately 450 client groups contesting a decision by the Tax Practitioners Board (TPB) who had decided to terminate the tax agent registrations and to disqualify them from applying for tax registration for a period of two years. The case is published in the public domain, but we have not named the firm here. Investigations initially undertaken by the […]

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AFR Article on how CSL priced the world’s most expensive drug

December 8th, 2022

CSL is one of Australia’s greatest business and technical success stories and its shares have provided one of the best returns on the ASX among listed companies over the past decade. CSL has also been a very strong advocate of the R&D Tax Incentive and lobbied for maintenance of a strong and stable incentive to encourage local investment in R&D. A recent article in the Australian Financial review has detailed the process around receipt of US regulatory approval for the […]

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InnovationAus 2022 Awards for Excellence – Cybersecurity Winners

November 28th, 2022

Cybersecurity has been a major focus for Government, industry, and even everyday Australians given the recent high profile breaches. Cyber Security Minister Clare O’Neil recently announced a new cyber task force, calling privacy laws a ‘national vulnerability’. She also said the Federal Government is considering making it illegal to pay ransoms, stating that Australian businesses shouldn’t fuel the ransomware business model. Additionally, a Senate committee reviewing the Privacy Act has recommended that proposed data breach penalty laws go ahead. The committee tabled […]

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Updated AAT Decision (Moreton Resources Ltd V IISA) Finds Some Disputed Activities Were R&D Activities

November 25th, 2022

Last decade, there were a number of R&D Tax Disputes heard by the courts with the majority of decisions seeming to find in favour of the regulators that claims (most of which were large) were not eligible. The original Federal Court decision in 2019 regarding Moreton Resources Ltd and Industry Innovation and Science Australia was big news at the time, since it represented one of the few matters where a decision was ruled even partially in favour of a taxpayer. […]

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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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