Latest Australian Taxation Office News

Algorae Pharmaceuticals has secured a significant A$318,771 R&D tax incentive rebate from the Australian Taxation Office, providing a non-dilutive cash injection to advance its AI-driven drug discovery programs.

Indiana Resources confirms receipt of settlement payments from Tanzania but moves to arbitration after a tax dispute threatens the agreement. The company awaits Australian tax approval to return capital to shareholders.

Otto Energy Limited has clarified that part of its recent capital return will be treated as a dividend according to a draft ATO ruling, prompting shareholders to consider tax implications carefully.

Careteq Limited faces a significant repayment demand from the ATO over R&D tax claims but is mounting a formal objection backed by legal counsel.

Select Harvests Limited has reported a remarkable turnaround with a $28.7 million profit in the first half of FY2025, buoyed by higher almond prices and improved operational efficiency. The company also secured $240 million in refinancing, positioning itself for future growth despite a slightly reduced almond crop forecast.

Top Shelf International Holdings has resolved its long-standing excise debt issue, leading to the dismissal of Australian Taxation Office proceedings against its subsidiary.

Otto Energy has received a draft ATO Class Ruling confirming part of its $40 million capital return will be treated as a dividend, with the remainder as a return of capital. The final ruling and payment are expected in June 2025.

Top Shelf International Holdings has completed the sale of its Campbellfield production assets for $8 million, fully settling its ATO excise liability and advancing its financial restructuring.

Abacus Storage King has turned down a $1.47 per security acquisition proposal from a consortium, arguing the offer undervalues the company and carries significant tax-related risks.

Northern Star Resources has completed its acquisition of De Grey Mining through a scheme of arrangement, issuing new shares to De Grey shareholders and initiating De Grey’s imminent ASX delisting.

Wellard Limited has secured a final ATO Class Ruling confirming its 2 cents-per-share return of capital is not a dividend, clarifying tax treatment for shareholders following the sale of its MV Ocean Ute vessel.

Recce Pharmaceuticals reports strong Phase II clinical trial results for its topical anti-infective R327G, achieving a 93% efficacy rate in treating ABSSSI, alongside a significant capital raise to fund upcoming Phase III trials.