ATO Focus on R&D Claims

The ATO has announced that it is working closely with AusIndustry to identify taxpayers as well as tax agents and consultants who may be involved in aggressive R&D arrangements. The ATO has asked tax agents to verify with their clients that the claims, including labour costs, were actually incurred on R&D activities consistent with their AusIndustry registrations and also notify the ATO if they are approached by an R&D consultant to lodge R&D schedules. If you are an R&D grant recipient, this is a good opportunity to re-familiarise yourself with your obligations under the R&D tax rules, along with ensuring that your documentation is in order to support your R&D claims.