A recent article published by AFR weekend has highlighted how investment in R&D has played a crucial role in the success of two growing local companies: Atlassian and Xero. Despite significantly growing revenues, both Atlassian and Xero have maintained a significant investment in R&D and product developments (figures quoted in the AFR article are R&D Spending of 36% and 31% of revenue respectively). Both companies have enjoyed continued success and significant rises in the value of their shares over recent […]
AFR has published data it has attained via freedom of information laws with respect to the repayment of R&D Claims found to be ineligible upon audit. These documents reportedly showed $500 million was reclaimed in R&D incentive compliance cases across three years; $200 million in FY18, $115 million in FY17 and $185 million in FY16. These documents also reported that 0.6 of 12,123 incentive claims made by Australian organisations in FY16 were subject to a compliance review, whereas this significantly […]
Real Energy Corporation Limited (ASX : RLE) have announced to the ASX that the company has received notice that AusIndustry has found the company’s R&D Activities for the FY14, FY15 and FY16 years to be ineligible. During the period of the last three years, Real Energy Corporation Limited has been paid around $7.2 million in R&D Incentives and potentially unpaid R&D claims of around $6.5 million. The R&D activities related to development of gas extraction processes and in the […]
The former (and likely to be ongoing) Minister for Industry, Science and Technology, Karen Andrews has been interviewed in today’s Australian Financial Review (21 May). This represented the Morrison government’s first comments on the R&D Tax Incentive since the coalition’s return to government. Ms Andrews made note that the widespread media reports of startup entities being subjected to adverse assessments during compliance reviews of their R&D Claims were not a result of technology companies being specifically targeted, and that “the […]