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Imdex Ltd posts strong FY21 result leveraging R&D Investment
August 30th, 2021Imdex Limited (ASX: IMD) is a WA-based company providing technology and equipment for the mining industry. The company offers a range of products and services, including: Drilling optimisation products; Rock knowledge sensors; Real time data and analytics solutions; Imdex Limited’s FY21 results were well received by the ASX, and concludes a year in which the company’s share price has almost doubled. An emphasis within the company’s results presentation released in August was the company’s R&D investment during the FY21 period. The […]
Swanson Reed in InnovationAus Article on state of R&D Tax Compliance
August 26th, 2021InnovationAus has this week published an article including comments from Swanson Reed regarding the state of R&D tax compliance, particularly for projects involving software development activity. The article comes following a turbulent period in the R&D Tax Incentive, including: Multiple proposed and eventually passed amendments to the legislation underpinning the R&D Tax Incentive; A widely reported crackdown on claims involving software development during the period 2017 to 2019. Airtasker’s R&D tax dispute for FY15 and FY16 being the most publicised […]
Airtasker Provide R&D Tax Update in FY21 results: Some years remain in dispute, have continued to register for subsequent years
August 19th, 2021Airtasker has previously been associated with the “compliance crackdown” on R&D Tax Incentive claims, particularly for software, after reports emerged in December 2018 that the company’s prior year claims were being disputed following ATO review. Airtasker’s dispute came around the time of other reported R&D tax disputes whereby companies such as CBA and Newcrest made disclosure of reduction to previously lodged self assessed R&D claims. Since this time, Airtasker has completed a successful IPO, and has provided an update to […]
NSW State Government Offers R&D Fund and New Tech Vouchers
August 10th, 2021The NSW State Government has recently announced new initiatives relevant to companies conducting R&D activity: A $6 million R&D fund will target innovative products that have been developed by NSW businesses. Proposals to scale R&D products will be assessed by a panel of judges with expertise in commercialisation, venture capital, academia, government and industry; A COVID-19 edition of TechVouchers, valued up to $25,000 and $50,000 per business, will be provided to businesses to access expertise and equipment in NSW, through […]
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News & Research
News & Research
News & ResearchAusIndustry Publishes New Hypothetical Machine Learning Case Study.
AusIndustry have recently published a case study to provide practical examples for eligibility of activities involving machine learning. It’s probable that this guidance has been in response to a rising number of claims involving AI and ML type activities. The examples in the […]
ATO’s First R&D Tax Incentive (R&D TI) Transparency Report
The ATO have provided some additional details on their upcoming R&D Tax Incentive transparency reporting. An ATO update circulated August 2024 notes: We’ll publish our first annual Report of data about Research and Development tax incentive entities in late September 2024. […]
