InnovationAus has reported this week that the Senate Economics Legislation Committee review into proposed R&D tax incentive reform is reportedly set to re-open, and a meeting could occur in early July. In December 2019, the government re-introduced a bill to reform the R&D Tax Incentive. This bill was a slightly modified version of a previous reform bill (Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018), which did not pass […]
Introduction: A recent case heard in the AAT has affirmed an internal review finding that Activities registered under the R&D Tax Incentive were not in accordance with the legislative requirements. The case: Havilah Resources Ltd and Innovation and Science Australia (Taxation) [2020] AATA 933 (16 April 2020) refers to R&D Activities claimed in the FY13 and FY14 periods. Background: The registered activities related to iron and gold deposits and were of an exploratory nature. The disputed core activities were: Understanding […]
Moreton Resources Ltd announced to the ASX on 10 June that the company has appointed administrators. Moreton Resources Ltd had become well publicised for its ongoing R&D tax disputes with Innovation and Science Australia: A decision by the AAT in September 2018 found in favour of Innovation and Science Australia, concluding that registered R&D Activities were not R&D Activities in accordance with the legislative criteria; A subsequent appeal to the federal court in July 2019, found in favour of Moreton […]
Sydney-based company Immutep Ltd has recently announced that it received a €2,173,454 (~A$3,630,000) R&D Tax Incentive payment in cash from the French Government under its CrĂ©dit d’ImpĂ´t Recherche scheme (CIR). The payment relates to activity the company is conducting in Paris to develop its novel Immunotherapy treatment. Immutep Ltd also registers activities under the Australian R&D Tax Incentive and has previously reported the following receipts: YE 30 June 2018 – $872,000; YE 30 June 2019 – $1,290,000. Whilst there is […]