The recent decision of the Administrative Appeals Tribunal in HZXD v Innovation Australia [2010] AATA 879 highlights the importance of good record keeping for companies claiming benefits under the R&D Tax Concession Program. If you couple this with AusIndustry’s 2011 scheduled increase in compliance activities then good record keeping is money in your pocket. From 2011 Ausindustry plan to review 15%…
The long awaited and advertised R&D Tax Credit Scheme was planned to be operational from 1 July 2011. Given the delays in the passage of this legislation through the Parliament the introduction date will most likely be postponed until 1 July 2012. The legislative process for the Tax Laws Amendment (Research and Development) Bill 2010 is progressing slowly….
The Tourism Productivity in Australia Report, released by the Australian Government today, shows significant investment is needed to boost productivity in the tourism industry. Gross domestic product (GDP) statistics released last week showed tourism outperformed the economy as a whole in the past year, but today’s report reveals the productivity of the industry has lagged behind the…
Carbon Farming Initiatives Released The Labor Government today announced a carbon offsets scheme that will provide new economic opportunities for farmers, forest growers and landholders and help the environment by reducing carbon pollution. The Minister for Climate Change and Energy Efficiency, Greg Combet, said the government was releasing draft legislation and methodology guidelines for the scheme. “While there…
Changes to industry codes on fair conduct, the definition of what is a small business employer for unfair dismissal provisions and the introduction of the paid parental leave scheme became effective from 1 January 2011. The new Competition and Consumer Act puts in place tougher enforcement powers that apply to all industry codes, including the…
Grant applications are being invited for the TCF Small Business Program. The closing date for applications is 5pm on Friday 25 February 2011. Grants of up to $50,000 are available for each successful project with up to $2.5 million available for projects in 2011/12. The TCF Small Business Program aims to improve the business enterprise culture of established…
The closing date for the 2010 Export Marketing Development Grants was Tuesday 30 November 2010. No further grants can be lodged. The EMDG Act requires that all EMDG claims for the financial year ended 30 June must be lodged by 30 November in each year. The Act does not allow for late lodgement under any circumstances. Austrade simply has…
Federal Government organises special consultative forum with key industry leaders. Pattens Group will be part of a special consultative forum on R&D Tax with the NSW meeting to be held in Sydney on 18 November 2010. The purpose of the forum is to provide an interactive and transparent environment to identify and discuss operational issues, including…
The Re-tooling for Climate Change Program is closed to further applications. The Government announced today that following confirmation of 2010 Election commitments, the Re-tooling for Climate Change program will be closed to new applications. Existing grantees in the program will not be affected.
The Multi-Party Climate Change Committee met in Canberra today and had initial discussions on policy principles, the potential design and scope of the Climate Change Commission, the progress of international action to reduce emissions and what a carbon price is and how it interacts with the Australian economy and communities and the opportunities it provides….
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