Industry Innovation and Science Australia (IISA) is the government department responsible for determining whether companies’ activities meet the legislative criteria eligible under the R&D Tax Incentive. The 2021-22 Annual Report for IISA was recently released, and a section of the report provides an update on legal matters and litigation relevant to the department. When comparing the 2021-22 Annual Report with corresponding reports from preceding years, a rapid decline in the number of R&D Tax Disputes arising between companies and IISA is […]
A number of Australian companies have reported substantial Refundable R&D Tax Offset receipts in recent months, including: Starpharma received a refund of $7.1M for FY22 R&D activity to progress three clinical-stage assets; ClearVue Technologies received a refund of $0.81M for FY22 R&D activity to progress its clean energy technologies; Estrella resources a refund of $1.01M for FY22 R&D activity related to its Carr Boyd Nickel project; Emyria received a refund of $2.1M for FY22 R&D Activity to support the registration […]
In various R&D Tax Incentive updates attended by ATO personnel over the past year it had been indicated that refreshed R&D Tax Incentive guidance material would likely be published by the end of 2022. Updates to the R&D Tax Incentive content on the ATO website have now been made and it’s noted on the main R&D Tax Incentive section of the ATO website that content was  ‘Last modified: 22 Nov 2022’. The main updates appear to be in relation to […]
A recent AAT decision published in November 2022 involved the case of a tax agent and firm (the Applicants), which ran a medium sized practice with approximately 450 client groups contesting a decision by the Tax Practitioners Board (TPB) who had decided to terminate the tax agent registrations and to disqualify them from applying for tax registration for a period of two years. The case is published in the public domain, but we have not named the firm here. Investigations initially undertaken by the […]