Our latest insights

The EMDG program fourth reformed round opens in November 2024, helping Australian small and medium-sized enterprises expand internationally.

The ATO released its first annual R&D Tax Transparency Report. This initiative stems from the R&D reforms brought into effect from 1 July 2021, along with the increased focus on corporate tax transparency and is designed to provide a new level of transparency into the R&D Tax Incentive program.

As we approach the end of Q1 FY25, it’s important consider how new and existing government grant programs could help your business achieve bigger, better, and faster outcomes.

The Australian Taxation Office (ATO) continues its commitment to tax transparency and encouraging voluntary compliance by beginning to publishing data on R&D Tax Incentive claim outcomes.

In the latest episode of Beyond the Numbers with Grant Thornton, Innovation Incentives Director Simone Barker and Michael Climpson, National Head of Manufacturing and a Partner in our Audit & Assurance team discuss what the mid-sized manufacturing sector currently looks like in Australia, how inflation has impacted the sector and what the Future Made in Australia initiative will look like in practice.

If you have carried out eligible Research & Development (R&D) activities in Australia during the current financial year ending 30 June 2024, now is the time to ensure you are well prepared to lodge a potential 2024 R&D claim.

The Australian R&D Tax Incentive (RDTI) is the key federally funded program for encouraging and supporting businesses undertaking innovation, research and development onshore in Australia.

As the financial year concludes, businesses should engage in tax planning. This can maximise tax efficiency and minimise liabilities. Now is a valuable time investment with practical tax planning considerations available.

The Administrative Appeals Tribunal (AAT) has recently affirmed the Commissioner of Taxation's authority to assess and determine the eligibility of taxpayers' registered R&D activities, upholding the Commissioner’s decision.

The landscape of fuel tax credits (FTC) is constantly evolving due to ongoing economic and technological developments. This dynamic environment presents both challenges and opportunities for businesses with significant fuel consumption.

The Australian Federal Government is ambitiously targeting 82 per cent renewable energy by 2030, currently at 30-35 per cent. Support mechanisms span grants, loans, and equity investment, nurturing diverse sectors from critical minerals to clean energy technologies.

If you performed eligible Australian-based R&D activities during the financial year ended 30 June 2023, the 30 April 2024 deadline to register your activities with AusIndustry is fast approaching.