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…
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…
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…
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.