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MJA Updates

The R&D Tax Incentive: It works and it works well

December 13, 2017 Ian Ross-Gowan

It has to be said that it’s been a tough couple of years for the R&D Tax Incentive (the Incentive). For what is meant to be available to the market as a planning tool, it’s taken a number of hits that have seen the program being regarded as anything but stable and certain including: The introduction of the $100 million…

R&D Tax Incentive: Welcome to the Seven(ish) Year Itch Club

October 13, 2017 Kris Gale

The R&D Tax Incentive (the Incentive) launched in its present form in the middle of 2011. Since that time, Australia’s Business Expenditure on Research & Development (BERD) has been rising steadily, matched by a spectacular growth in the number of companies claiming the Incentive, whereby program participation has nearly doubled, driven by a high uptake in the Refundable R&D Tax…

Sometimes it’s just good to go with the classics

December 21, 2016 Kris Gale

Recently, we had the pleasure of listening to two podcasts from the American program, Freakonomics, entitled “In Praise Of Maintenance” and “In Praise Of Incrementalism”.  Each show was highlighting the virtues of callings that are often seen as the poor cousins of innovation. The programs felt timely and humbling. We can’t all be disruptive all of the time. So while…

AusIndustry Specific Issue Guidance – What Messages Are In The Bottles?

December 9, 2016 Kris Gale

AusIndustry recently published four Specific Issue Guidance products concerned with the R&D Tax Incentive (the Incentive) and the overall message of the four documents is something we can all agree on. In accessing the R&D Tax Incentive (the Incentive), taxpayers must follow the law. Fair enough, we say, but when we unfurl the parchment contained in the metaphoric bottles, the message…

AusIndustry Release R&D Tax Incentive Guidance

November 22, 2016 Kris Gale

AusIndustry has issued seven products to assist taxpayers and advisers in making claims under the R&D Tax Incentive. There are four Specific Issue Guidance products for: Agriculture -  Getting farming R&D Tax Incentive claims right Building and Construction - Getting building and construction R&D Tax Incentive claims right Mining - Getting mining R&D Tax Incentive claims right Software Development -…

The R&D Tax Incentive Review: Talk of Blunt Instruments and Wrecking Balls

October 21, 2016 Kris Gale

As we rapidly head towards the closing date for submissions in respect of the current Review of the R&D Tax Incentive (the Review), it is high time we supply this third and final instalment of the MJA Update which seeks to unpack the issues contemplated by Messrs. Ferris, Finkel and Fraser. Our focus will be on the effectiveness and additionality…

The Saga Begins…

October 19, 2016 Sarah Lander

And no, this MJA Update is not a review of Weird Al Yankovic’s Star Wars parody of Don McLean’s American Pie entitled “The saga begins”, nor is it a critique of an American soap opera, it is in fact a direct quote from the recent AAT decision on the R&D tax program (Silver Mines Limited and Minister for Infrastructure and Regional…

The R&D Tax Incentive Review – Integrity Matters

October 14, 2016 Kris Gale

The R&D Tax Incentive Review (the Review) has been on the road this week with a series of briefing sessions conducted by AusIndustry around Australia. It is an interesting move as the Review contains exactly what it says it does – a series of recommendations. It is not a policy statement from government and it certainly does not reflect any intended…

The R&D Tax Incentive Review – What Happens When You Start Unpacking The Messages

October 6, 2016 Kris Gale

The recent release of the R&D Tax Incentive Review (the Review) has again seen the R&D Tax Incentive (the Incentive) hit the headlines and, as usual, for a mixture of the right and wrong reasons. The innovation community has been given an opportunity to respond to the recommendations of the Review by 28 October. We urge you to consider making a…

R&D Tax Incentive Review Released

September 28, 2016 Kris Gale

The Review of the R&D Tax Incentive Report has just been released. The report has been co-authored by Mr Bill Ferris AC, Chair, Innovation Australia, Dr Alan Finkel AO, Chief Scientist and Mr John Fraser, Secretary to the Treasury. We will provide a summary and analysis of the recommendations in subsequent MJA Updates over the coming days. Should you wish…

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MJA updates keep you informed on how government decisions will effect your business. This is a must if you want to know the latest on business and company insights without having to read and decipher complicated law and tax manuscripts.

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