Facts of the Case
This entity argues that the Commissioner of Taxation lacks the authority to assess whether its activities qualify as ‘R&D activities’ under Division 355 of the ITAA 1997.
Who is GQHC?
This term describes the necessary adjustment when an R&D tax offset includes amounts for feedstock expenditure
What is a feedstock adjustment?
This is the case (short name) that the judges used as precedent to determine that the Commissioner could make a decision where the board had not.
What is Auctus?
This is the date that this ruling was handed down (we will accept a date that is 5 days off either side)
What is 16 February?
These types of R&D activities, which transform or process feedstock inputs, trigger the feedstock provisions.
What are core and supporting R&D activities?
What is Obiter Dictum and Ratio Decidendi?
Per the applicant summary, this company produces how many broiler chickens annually.
What is 28 million?
The feedstock adjustment applies to these types of expenditures related to the transformation or processing during R&D activities.
What are expenditures on goods or materials, energy input, and the decline in value of assets?
This is the case that the court relied upon to claim that the Judge's statement should be relied upon.
What is TCXG and Minister for Foreign Affairs?
This review by the Board of Taxation Australia was cited throughout the session as a reason as to why this is important to our knowledge and our clients.
What is the review of the R&D Tax Incentive Dual Agency Administration model?
This is the main intent of the feedstock adjustment in relation to the R&D tax offset received for feedstock expenditure.
What is to recover the ‘incentive’ component of the R&D tax offset?
This is the division number of the ITAA97 that GQHC was seeking a declaration that the tribunal did not have the jurisdiction to determine eligibility of the R&D activities for.
What is Division 355 of the ITAA 1997
According to this section of the IR&D Act, the Commissioner can request an internal review of R&D activities by the Board.
What is Section 30C(4)
This is the general calculation for feedstock revenue using market value.
What is Market Value of the Marketable product multiplied by (Cost of producing feedstock output divided by cost of producing marketable product)
This is the date (month and year) of the objection decision from the initial ruling.
What is 5 February 2020