Beyond the numbers: Explore the trends and ideas shaping Australian business. Listen now.
By: Rebecca Iwanuscha, Bianca Patrick
21 Dec 2023 3 min read
The release of new guidance is in line with the continued focus on the integrity of the R&D Tax Incentive (RDTI) program. They are done as new or emerging higher risk tax arrangements or issues come to light.
The ATO is concerned that arrangements, including those listed below are either being used to claim a R&D tax offset when it would not otherwise be available, or being used to artificially increase the R&D tax offset amount:
These areas are now identified as those to be under a greater level of scrutiny. Additionally, examples of scenarios where these TPAs are relevant and where R&D applicants should be pay close attention include:
Companies must ensure they have a robust R&D claim process in place, along with a governance framework as audit readiness is more important than ever. The RDTI is a self-assessment based program, and reviews can occur for claimants from either of the regulators of the program.
Get in touch with Grant Thornton’s team of R&D Tax specialists to understand these new TPAs and how they may apply to your claim.
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In this edition of our Australian International Tax Update, we summarise recent significant Australian tax developments, examine their practical impact, and outline actions that multinational groups, foreign investors, private equity funds and international advisers should consider.
