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Procuring Quality R&D Tax Services, and Distinguishing From Those That “Maximise Your Claim and Ensure Compliance, But Are NOT Providing Tax Advice”

October 15th, 2020

Swanson Reed’s overall wish is to see a functional, broad based R&D Tax Regime that provides a generous, stable and predictable incentive for companies to conduct genuine R&D Activity. The Federal Government’s budget announcement last week backing away from proposed cuts to the programme was a step in the right direction. Our view is that R&D Tax Incentive programme is currently cleaner, and subject to less mischief than it has been in prior years, largely due to the widespread reported […]

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R&D Tax Budget Reforms Applauded By Australian Industry Leaders

October 12th, 2020

When the federal government announced in December 2019 that they would reintroduce their R&D Tax Reform bill with a proposed start date of July 2019 for FY20, it was met with widespread condemnation from industry leaders. The reintroduced bill was a slightly modified version of a previous reform bill, which did not pass through the Senate, and previous review by the Senate Economics Committee noted concerns around the proposed intensity threshold and refundable offset cap. A co-ordinated lobby effort then […]

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Federal Budget Update – R&D Tax Incentive a Winner

October 7th, 2020

Federal budgets under both major parties have not presented good news for the R&D Tax Incentive in recent years, with the flagship programme for encouraging business investment in R&D subjected to a series of proposed cuts via caps and rate reductions. This year’s budget has been a welcome change in the wake of the Government’s plan for COVID economic recovery. As was flagged by the media last week, the government has largely backed away from the unworkable changes in its […]

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AFR reports that government will back down on R&D Tax budget reforms

October 2nd, 2020

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 through the Senate at that time. A Senate Economics Legislation Committee recommended in February 2019 that the initial bill should be deferred from consideration until further analysis of the bill’s impact […]

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Bryce Steele
Principal, Melbourne
Tom Parkhouse
Principal, Sydney
Andy Nguyen
Principal, Brisbane
Holly Parkinson
Manager, Adelaide
David Greatwich
Principal, Perth
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Manager, Hobart

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