Our People

Biography

Peter Xi is a Principal in the Tax Division in the Sydney office, providing specialist R&D tax incentive compliance services. He also services the Brisbane, Canberra, and Auckland office.

innovationPeter has worked with some of Australia’s most well-known start-ups and SMEs, as well as some of the largest global innovators. Before joining RSM, Peter worked in a variety of roles including the Innovation incentives team and Private Clients Tax team at PwC, the legal team at Virgin, and sales team at Virgin Mobile Australia.

“I am motivated by building solutions for clients, optimising the benefits available to them, and subsequently watching them grow and succeed.”

Peter is a self-confessed perfectionist and will tunnel vision towards a goal and do everything possible to achieve the perfect outcome.

On the weekends you can find Peter watching football and spending time with his wife.

SOLUTIONS

Peter provides solutions in both English and Mandarin (along with dedicated members of the RSM China Practice Group team), for businesses ranging from start-ups and SMEs to multinationals, local and in-bound. Some of the key industries that Peter’s clients operate in include technology, construction and engineering, manufacturing and consumer products.

  • innovationAccess to innovation funding through the R&D Tax Incentive program, including Advanced/Overseas Findings and access to R&D debt financing through RSM’s finance partners.
  • Advice and assistance in relation to reviews and audits of a company’s R&D Tax Incentive claim by either AusIndustry or the ATO.
  • Review of historical R&D claims to ensure the legitimacy of R&D benefit claimed, including during due diligence processes.
  • Advice in relation to R&D management processes and best practice governance procedures.-
  • Advice in relation to complex matters involving the integrity rules of the R&D Tax Incentive, and where the R&D Tax legislation overlaps with other provisions of the Tax Acts.
  • Structuring for innovation projects.
  • Advice to investors and innovative companies for the Early Stage Innovation Company (“ESIC”) regime.

SIGNIFICANT PROJECTS

  • Managing and preparing successful R&D Tax claims across a variety of sectors, with annual R&D expenditure of up to $90m
  • Being the ‘Go to’ guy for Chinese clients in relation to innovation funding and being able to clearly advise clients in both English and Mandarin. This has bridged a language gap that a number of clients have found with other R&D advisers.
  • Successful defences of reviews and audits of R&D Tax claims, including R&D claims which were prepared by other R&D advisers / R&D entities with no adviser, and preliminarily rejected by the ATO.
  • Appearing in front of Senate members as one of two RSM representatives at the November 2018 Senate Inquiry into the proposed changes to the R&D Tax Incentive legislation, where only 3 firms nationally were invited.

ASSOCIATIONS

  • Association of Chinese Accountants Australia (Technical Committee member and Mentor)
  • Provisional Member, Chartered Accountants Australia and New Zealand

QUALIFICATIONS

  • Bachelor of Commerce – Professional Accounting (Macquarie University)
  • Bachelor of Laws with Honours (Macquarie University)
  • Master of Laws (University of Sydney)
Publications

Tax Insights | June 2021 edition

30 June 2021
In our June edition of our Tax Insights we look at Taxation Ruling TR 2021/D4, R&D EOFY summary and more.

R&D Tax Incentive: EOFY Summary

24 June 2021
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. Below is a summary of...

Federal Budget implications for the R&D Tax Incentive

20 October 2020
The Australian Federal Budget was handed down on 6 October 2020, and outlined various economic stimulus measures with the intent to support Australia’s economic recovery through the COVID-19 pandemic and beyond. Several key measures of the Federal Budget passed through both houses of Parliament on 9 October 2020 as the Treasury Laws Amendment ...

R&D year end planning during an unprecedented time

15 June 2020
In what has been an unprecedented year so far around the world, business and life in Australia have never been more different. At a time when there is economic uncertainty and cashflow is critical, it is more important than ever to plan for the R&D Tax Incentive and to ensure robust documentation is in place to secure much needed R&D f...

A lift in benefit: Recent measures for depreciating assets used for R&D purposes

5 May 2020
Over the past 12 months, including due to the COVID-19 economic downturn, a number of measures have been introduced by the Federal Government to provide greater access to tax deductions relating to depreciating assets. The manner in which the new legislation has been introduced potentially modifies the amounts allowable for the R&D Tax Ince...

The Moreton Resources Case - R&D tax incentive in Australia

26 March 2020
The Moreton Resources Case – Finally certainty amongst the uncertainty for the R&D tax incentive in Australia, but only if you know how to find it.   The morning of Thursday, 25 July 2019 became a significant day for the R&D tax incentive in Australia, as the landmark decision of Moreton Resources Ltd v Innovation and Sc...