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Swanson Reed Article on Recent ATO Alerts (TA 2023/4 and TA 2023/5) in June 2024 Tax Institute Journal
June 14th, 2024A feature article authored by Swanson Reed is included in June 2024 volume of the Taxation in Australia. Swanson Reed’s article covers the recent R&D tax incentive taxpayer alerts released in December 2023 (TA 2023/4 and TA 2023/5). These alerts primarily relate to whether entities registering R&D activities and claiming R&D tax offsets can be shown to be the entity for whom the registered R&D activities are conducted, as required by law. TA 2023/4 and TA 2023/5 indicate that the […]
Deadline approaching for lodgement of Overseas Findings for R&D Activity first conducted in FY24
June 10th, 2024Companies seeking to claim expenditure for overseas activity incurred by an Australian company under the R&D Tax Incentive must apply separately to claim these costs by first lodging an Overseas Finding Application with AusIndustry. In addition to general eligibility criteria, there are specific and extensive rules to determine whether expenditure on overseas activities is eligible under the R&D Tax Incentive. Generally, expenditure incurred by Australian companies on R&D activities conducted overseas can only be eligible for the R&D Tax Incentive where: The […]
Another case involving Moreton Resources Ltd
June 10th, 2024Moreton Resources Ltd (currently under external administration per ASIC records) has been involved in several cases heard in the AAT and federal court regarding disputes over the company’s significate refundable R&D Tax Offset claims. Moreton Resources Ltd has also been one of the few companies to have attained a favourable outcome in a dispute with the R&D Tax regulators in recent years. The company has been involved in new AAT case recently (Moreton Resources Ltd and Commissioner of Taxation (Taxation) [2024] AATA […]
Media Coverage of Business Reaction to Review of Australia’s R&D System
May 22nd, 2024In the wake of the recent 2024-25 federal budget announcement that the government will conduct of review of Australia’s research and development system, business leaders have been quick to declare that any change must NOT seek to reduce R&D tax incentives. This was highlighted in an article published by The Australian Financial Review last week. The independent expert review, expected to span 18 months, is part of a strategic effort to halt the decline in Australia’s R&D investment, which has reached a two-decade […]
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Daniel McGregor2022-08-11I 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. Highly recommended.
John2022-06-15Damian and the rest of the team at Swanson Reed have been supporting us for several years. We always appreciate their insights, expertise, and efforts.
Rueben Rajasingam2022-06-06Experienced 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.
Enrique Esquivel2022-06-06Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
Jess at Y&C2022-06-03
Anatole Kononewsky2022-06-02The 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.
Payam Toloo2022-06-02Damian 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 Doddy2022-05-31The 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 Watson2022-05-31We 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 Bergh2022-05-31Always professional.
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News & Research
News & Research
News & ResearchSwanson Reed presenting R&D Tax update at MSIA Event – July 2024
Swanson reed is providing an update on the R&D Tax Incentive at an event on Thursday, July 25th, 2024 in Brisbane presented by MSIA (Medical Software Industry Association). The 2024 MSIA Brisbane event is being held in conjunction with the […]
Significant Refundable R&D Offsets receipts reported to the ASX in recent months
Over recent months, a number of companies have reported to the ASX receipt of substantial Refundable R&D Tax Offsets. Notable receipts include: Recce Pharmaceuticals (ASX: RCE) received $2.6 M related to its anti-infective platform; Latrobe Magnesium (ASX: LMG) received $12.5 […]
