Airtasker had previously been associated with the “compliance crackdown” on R&D Tax Incentive Claims, particularly for software, after reports emerged in December 2018 that the company’s prior year claims were being disputed following ATO review.
Airtasker’s dispute came around the time of other reported R&D tax disputes whereby companies such as CBA and Newcrest made disclosure of reduction to previously lodged self assessed R&D claims.
Since this time, Airtasker has subsequently completed an ASX listing, and had provided an update to the ASX on the Refundable R&D Tax Offset Dispute within the FY21 results released August 2021:
A further update was provided in the company’s FY22 results released in August 2022:
It is a positive outcome that the dispute was resolved, and that the company was able to continue to register R&D Activities for years subsequent to the those in dispute.
Stakeholders participating in the R&D Tax Incentive should look to assess and document activities in accordance with programme regulator guidance as to minimise the likelihood of ending up in disputes. AusIndustry released new Software R&D Activity guidance around April 2022 and it is expected new ATO guidance will be released shortly.