StartupAUS, Australia’s national startup advocacy group has released a report titled Crossroads – Fifth Anniversary edition. Data from the company has found that almost 90 percent of startups rate the R&D tax incentive as “very important” or “critical” to their business’s success. Within the report, they have called for greater assurance for software companies accessing the R&D Tax Incentive, and put forward proposals including: A moratorium on audits for software claims; A legislative amendment to the R&D Tax Incentive, or […]
Reports have emerged in the media recently of software development companies that have been subject to adverse R&D Tax Compliance proceedings. Whilst the benefits available under the R&D Tax Incentive are significant, these reports affirm the need to ensure R&D claims are completed with diligence, and in accordance with the current reporting expectations. Recent publications from ATO and AusIndustry on software development activities have highlighted current regulatory compliance focuses, which include the need to: Detail the specific hypothesis, or central […]
Despite Switzerland being known as one of the most innovative nations, latest reports have shown a 10% decline in the country’s research and development spending. This comes as a surprise due to the fact that worldwide R&D expenditure has reached an all-time high of $782 billion. The biggest Swiss companies invested $27.5 billion into R&D in 2018. The majority of the decline has come from Basel-based giant pharmaceutical companies Roche and Novartis. Roche spent around $1 billion less on R&D […]
In 2016 the Johnson & Johnson Partnering Office was launched to enable innovative research and development (R&D) for Queensland’s life sciences industry. The R&D facility is housed at Queensland University of Technology’s (QUT) Institute of Health and Biomedical Innovation. The R&D centre serves as a strong platform to identify and nurture life science and research collaborations. Following on from the launch in 2016, the Queensland government has now announced a significant extension of the Johnson & Johnston R&D Office at […]