Strike Energy Ltd previously reported to the ASX that R&D activities the company had registered had been found by AusIndustry to not be eligible under the legislative criteria. The matter is currently before the Administrative Appeals Tribunal (AAT) and within Strike Energy’s half year report published to the ASX, the company provided the following update: Innovation and Science Australia (ISA) carried out an internal review of Strike’s FY16 registration and FY18 R&D preregistration under the Industry Research and Development Act […]
The Australian newspaper has highlighted a speech to the Australian Computer Society on Friday made by Liberal Senator Andrew Bragg, who is chairing a committee examining Australia’s fintech sector. The article noted that: The government is mulling a number of policy shifts to make life easier for start-ups; Senator Bragg is quoted as saying: “FinTech Australia tells us the R&D tax incentive is the number one regulatory issue for fintechs. They tell us the importance of the R&D tax incentive […]
Many areas of regional Australia have been impacted by severe bushfires over the summer. Published on the AusIndustry website recently is the following extract: If you’ve been impacted by these bushfires, we don’t want you to be concerned about your R&D Tax Incentive claims. Now is the time to focus on yourself, your family and community; If your business is in an impacted area listed on the ATO website, and has been affected by this disaster, find out how we […]
Federal parliament is scheduled to resume for the year next week. InnovationAus reported today that a “showdown” is looming on the proposed reforms to the R&D Tax Legislation. The Government had previously sought to pass R&D Tax reforms announced in the 2018 federal budget, however these were not enacted as law following concerns raised by the Senate Economics Committee, largely due to complexity of the proposed intensity threshold. The Government has reintroduced a slightly modified R&D reform bill in December […]