Our latest insights

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.

Explore 2023 Division 7A loan rates, compliance, and tax impacts.

A recent case decided by the Administrative Appeals Tribunal (AAT) in December 2023 (Active Sports Management Pty Ltd and Industry Innovation and Science Australia) has found the registered activities were neither eligible core or supporting R&D activities as defined by the Income Tax Assessment Act (ITAA)1997 .

The ATO has recently released two new taxpayer alerts (TPAs) relating to activities delivered by associated entities (TA 2023/4) and activities conducted overseas for foreign related entities (TA 2023/5).

Innovation is a key driver of productivity for businesses. To help them achieve their objectives, the government offers various programs such as the R&D Tax Incentive and government grants.

In line with the focus on tax transparency, good governance and paying your fair share, the ATO is also focused on ensuring the integrity of the R&D Tax Incentive (RDTI) program. This is not surprising given the important role the RDTI plays in fostering Australian-based innovation, research and development.

There is a change of pace in the FY24 grants landscape, with the State and Federal Governments announcing and opening a wave of exciting new grant programs to support priority industries and businesses.

In this episode of Navigating the New Normal, Pete Burgess, Partner in Corporate Finance, and Simone Barker, Director in Innovation Incentives, discuss how they support their clients to secure funding in order to grow.