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MJA Updates
Publishing RDTI Claims: Tales Of Transparency, Compliance & Bad Acting
Last week, the ATO published its 2021/22 Report about the claiming R&D Tax Incentive (RDTI) entities and an accompanying Transparency Report. These reports were originally announced in the 2018/19 Budget. It needs to be noted that the reports excluded entities with substituted accounting periods that commenced before 1 July 2021.At the heart of the reports was a document in the…The RDTI & The Federal Budget – The Beat Goes On
As expected, last night's Federal Budget did not announce any changes to the R&D Tax Incentive (RDTI). MJA welcomes the continued stability of the program, allowing companies to plan their innovation forward spending with ever-increasing confidence.In terms of industry support, the Federal Government announced its $22.7 billion Future Made in Australia package. Specific measures included: An investment of more than…Putting the R&D Tax Incentive To The Pub Test: Is This The End For AusIndustry?
When we look back at the towering achievements of the 21st century, one phenomenon that is likely to be at the head of the queue is the rise of the ‘pub test’. The test is regarded as something the ordinary patron in an Australian pub would understand and accept to be fair, were it to come up in conversation.Well, this…Affordable Ways To Get The RDTI Humming
MJA in InnovationAus.com: Affordable Ways To Get The RDTI Humming.....MJA was delighted to be invited to make a contribution to the 9 February edition of InnovationAus.com. The article provides some recommendations of cheap and cheerful ways to improve the RDTI’s contribution to driving Australia’s R&D efforts.The article is reproduced below.Sandy Plunkett’s excellent article in Monday’s edition of InnovationAus.com, ‘Money for…It’s that time of the year….
In what seems to be a bit of a tradition, one of the regulators responsible for the administration of the R&D Tax Incentive program released some guidance in the lead up to Christmas. The ATO recently released two Taxpayer Alerts on R&D that focus on where the R&D is conducted by an: associate of the R&D claimant (TA 2023/4 “Research and…Federal Government Funding For R&D: Perceptions, Reality and All That Kind Of Stuff
Our lives. They’re busy. Keeping up with everything is hard. So hard in fact that MJA only produces this Update when it feels there is something legitimate to say so we don’t unnecessarily add to the clutter.When recently asked by The CFO Centre to contribute to the upcoming edition of its newsletter about any recent changes in government funding for…The RDTI: All Quiet On The Fiscal Front
This week's Federal Budget had nothing of moment to say about the Government's flagship innovation program, the R&D Tax Incentive (RDTI). Whilst Australian taxpayers are always keen for additional support and encouragement, the stability of the current unchanged program does enable companies to make their R&D and innovation plans with a high degree of certainty. It should be remembered that…Moreton Resources: More Good News For R&D Taxpayers From The AAT (Before The Curtain Falls)
Whether your streaming tastes are related to the Addams Family, the Royal Family (or neither), you tune in knowing that the show won't be going on forever. And so it is with the Administrative Appeals Tribunal (AAT) which the Federal Government has announced will cease after more than 50 years of operation next year. However, there has still been time…Innovation and the Federal Budget of “restraint”
Last night’s Federal Budget was characterised by the new Treasurer as one of “restraint”. And this appears to have applied to the R&D Tax Incentive – leaving the program untouched. Included in the Budget announcements were some news relevant to the innovation space: • The Government announced its flagship industry investment aimed at diversifying and transforming Australian industry through its…Keep informed
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.