Tax Insights | June 2021 edition

Tax Insights

June 2021 edition

The latest tax updates for you and your business
 
Keep up to date with the latest Australian and International tax news from our market-leading experts.
 
THE TAX LIBRARY
Taxation Ruling TR 2021/D4 - Income tax: royalties - character of receipts in respect of software
By Liam Delahunty & Danielle Sherwin
 
The ATO has released an initial draft, for comment, of its updated guidance on the classification of royalties in relation to software, in TR 2021/D4.
This has been long-awaited given the last version of this guidance is in TR 93/12, which has now been withdrawn effective from 1 July 2021.
R&D Tax Incentive: EOFY Summary
By Peter Xi, Richard Wraith & Aaron Ng
 
We have seen a number of developments to the Research and Development Tax Incentive (R&DTI) during the 2021 income year. 
 
This includes an increase in the net R&D tax benefit for some claimants, updates to AusIndustry guidance and a number of Administrative Appeals Tribunal (AAT) and Federal Court decisions.
Boost your tech business’s cash flow with government incentives
By Jessica Olivier
 
How can you boost your tech business’s cash flow with government incentives?
 
When you launch a startup, it’s natural to think being cash strapped comes with a territory. After all, you’ve likely seen plenty of movies and heard stories about the endless struggles of entrepreneurs who endure years of hard work before making a single penny.  
 
 
WHILE YOU'RE HERE...YOU MAY ALSO BE INTERESTED IN...
State Budget Anaylsis 2021-22
 
What does the 2021-22 State Budget mean for you and your business?
Check out out Victorian, New South Wales and Queensland State Budget Analysis, or sign up to receive our analysis for your State!
 
For more information
If you require any further information on any of the above articles or have any questions, please contact your local RSM adviser today.
 
 
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