Time Advice Innovation - Breaking News
You may recall that we introduced Time Advice Innovation to our suite of services at the start of this financial year, and we are delighted both with the growth of that Division and the assistance it provides to our clients across the board.
In very good news, I wanted to let you know that we have brought in further specialist support with the appointment of Mr Ross Macindoe, a former Deputy State Manager of AusIndustry in Victoria, who has had extensive experience in the R&D Tax Incentive area as well as other Commonwealth government grant schemes.
"Ross is an incredibly valuable addition at this time, when there is growing scrutiny from Government on the eligibility of R&D applications – not just for the latest financial year, but prior year claims and payments as well."
In just the last month, we have had several clients referred to us where their previous applications have been reviewed by either AusIndustry or the ATO, and they are now being asked to pay back the incentives previously offered (plus interest and penalties) as they, or their consultants, could not adequately demonstrate where the R&D lay and/or the validity of the costs claimed.
Fortunately, given the extensive experience of our Partner and Principal in this Division, Peter Kreitals, we have been able to help these businesses. Ross’ appointment will only help to enhance our offering.
If you come across any clients that may have been caught out by this renewed “vigilance” by the Government, please do not hesitate to refer them to us, as we should be able to help. At the very least, we will be able to make a very good assessment of where their vulnerabilities lie and give them realistic advice on their options.
And of course, we can also help any business you may know that has not yet lodged an application for the R&D tax Incentive, but have undertaken projects over the course of the FY2018 that would be eligible. Time is quickly running out as the deadline for FY2019 is the end of April – just over 9 weeks away.
If you would like to discuss anything R&D (or Innovation) related, Peter can be called on 0412 101 590 or Ross on 0488 123 323, at any time.