Swanson Reed News

Industry Examples of Refundable R&D Tax Offset Eligibility Cliff for Companies Breaching $20M Turnover Threshold

March 12th, 2024

Australia’s R&D Tax Incentive program is designed to encourage innovation by providing tax refunds to eligible companies based on their R&D spending. However, companies face a refund cliff if their revenue exceeds the legislated turnover threshold. A company’s rate of R&D tax offset and whether it is refundable or not depends primarily on the R&D entity’s aggregated turnover: If an entity’s aggregated turnover is less than $20 million and it is not controlled by any exempt entities, then the company […]

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Statutory Deadline for FY23 R&D Claims is Next Month

March 7th, 2024

Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do so should note that the Registration Deadline is 10 Months after YE, and 30 APRIL 2024. The blanket and automatic extensions granted during COVID do NOT apply any longer or for FY23 claims. Extensions of time may be available in certain situations, and extension applications lodged BEFORE the original deadline are viewed much more favorably. However, recent […]

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New Requirements to Publish R&D Expenditure Claim Information in 2024 – Video

March 5th, 2024

Where relevant, the content of this video may have been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively published by the programme regulators on their respective websites: ATO AusIndustry

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Research and Development Software Sector Guidance Update May 2023 – Video

March 5th, 2024

Where relevant, the content of this video may have been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively published by the programme regulators on their respective websites: ATO AusIndustry

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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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