The ATO and AusIndustry work closely together to ensure the ongoing success of the R&D Tax Incentive.
We have recently published some joint guidance to help companies and their R&D tax advisors better understand how the programme works, how to make sure they comply with the rules, and what compliance scrutiny to expect.
The guidance explains that registration, claiming and receiving a tax offset doesn’t mean that the ATO and AusIndustry have determined that the claims are eligible. As a self-assessment programme, eligibility compliance checks will occur after the claim is made.
Self-assessment means you are obliged to be diligent in your judgement as to the eligibility of your activities, provide honest and accurate information to both the ATO and AusIndustry, and to keep evidence that substantiates eligibility. Using the services of an R&D tax adviser to assist with the preparation of a registration application and tax offset claim does not guarantee eligibility.
The ATO and AusIndustry actively share information about registrations and claims to target our compliance activities.
Further details may be found about the Research and Development tax incentive on the ATO website.