Swanson Reed News

Australian Heavy Rare Earths Producer, Northern Minerals Limited Converts Lind Debt into Equity; Settles R&D Tax Dispute with the ATO

August 27th, 2020

Converts Lind Debt into Equity Australian heavy rare earths producer, Northern Minerals Limited, has issued 66,666,667 shares to a nominee of Lind Global Macro Fund, by converting $1.2 million worth of convertible security into ordinary shares. Resulting from this conversion, there are no amounts outstanding under the replacement convertible security. In accordance with the terms of the funding agreement entered into with Lind in March 2020, Lind has elected to reduce the collateral shareholding from 60,000,000 shares to zero, by […]

Read More

Tech Industry Leaders Petition to PM Lobbying Against R&D Tax Reforms

August 24th, 2020

Reports have emerged that the chiefs of Australia’s leading technology companies collaborated in sending a joint letter to Prime Minister Scott Morrison on Friday. The letter was signed by leaders at Atlassian, Canva, Airwallex, Culture Amp, StartupAUS, Prospa, Freelancer, NextDC among others. The letter has expressed particular concerns regarding: Australian investment in research and development lagging behind peer OECD nations; The proposed reforms to reduce the R&D Tax Offset; The retrospective implementation of the reforms, if passed as law; A […]

Read More

Argent Minerals (ASX:ARD) Announces Details of R&D Tax Dispute Settlement and Progression of Further Claims

August 17th, 2020

Argent Minerals Limited has previously disclosed a liability in the company’s 2019 annual report for “R&D Claims repayable” of approximately $1.4M. This liability was in respect of R&D Tax Offsets for the FY16 and FY17 periods that AusIndustry had found related to ineligible activities. Argent Minerals Limited had, at the time reported that the company remained of the view that its R&D activities were eligible, and intended to pursue a dispute of the adverse finding. In May 2020, the company […]

Read More

Reports That Senate R&D Tax Reform Inquiry Has Been Delayed Again

August 5th, 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 […]

Read More

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

Categories

Archives