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Labor Announcement on R&D Tax Policy

May 9th, 2019 labor announcement

During this week’s election campaign announcements, Labor party industry spokesmen Kim Carr has outlined the following in discussions with the AFR and Innovationaus.com:

  •  Labor want to increase Australia’s Business Expenditure on R&D to 3% of GDP by 2030. As part of this, they would seek to double the number of companies registered for the R&D Tax Incentive;
  •  Labour would offer a “collaboration premium” that would add 10% to the value of a company’s R&D Offset for certain qualifying expenditure such as:

Expenditure in cooperating with a university or the CSIRO as part of an eligible project; or

Embedding industry researchers within a university facility, employing recent PhD graduates in their first three years of employment, or hiring PhD students to do industrial research;

  • Labor have indicated they would conduct a review of how the programme was being administered to balance between integrity of the programme and the treatment of participants;

Swanson Reed encourages all sides of politics to commit to preservation of a stable R&D Tax Incentive, and we seek to work alongside the programme administrators to maintain the compliance integrity and equitable treatment of companies accessing the programme.

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 Swanson Reed - Specialist R&D Tax Advisors 
 
 
 Swanson Reed - Specialist R&D Tax Advisors
  
 39 Google reviews 
 
 
 
 
 
  
 
 
 
 Daniel McGregor 
 
 
 Daniel McGregor 
 
2022-08-11
 
 
  
 
I have been using Swanson Reed for my clients for more than a decade.  Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients.
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2022-06-15
 
 
  
 
Damian and the rest of the team at Swanson Reed have been supporting us for several years.  We always appreciate their insights, expertise, and efforts.
  
 
 
  
 
 
 
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2022-06-06
 
 
  
 
Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.
  
 
 
  
 
 
 
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 Enrique Esquivel 
 
2022-06-06
 
 
  
 
Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
  
 
 
  
 
 
 
 Jess at Y&C 
 
 
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2022-06-03
 
 
  
 
  
 
 
  
 
 
 
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 Anatole Kononewsky 
 
2022-06-02
 
 
  
 
The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
  
 
 
  
 
 
 
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2022-06-02
 
 
  
 
Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.
  
 
 
  
 
 
 
 Melissa Doddy 
 
 
 Melissa Doddy 
 
2022-05-31
 
 
  
 
The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end.  Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
  
 
 
  
 
 
 
 Gary Watson 
 
 
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2022-05-31
 
 
  
 
We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.
  
 
 
  
 
 
 
 Rob van den Bergh 
 
 
 Rob van den Bergh 
 
2022-05-31
 
 
  
 
Always professional.