Ombudsman To Deliver Findings On Investigation Into R&D Tax Compliance Reviews

August 28th, 2019 r&d tax compliance reviews

The Australian Small Business and Family Enterprise Ombudsman have announced that they will deliver the findings of an investigation into the processes for compliance reviews of companies registering activities under the R&D Tax Incentive (read article here).

The announcement has noted that certainty of eligibility is essential if the R&D Tax Incentive is to fulfill the purpose of the legislation, which is to incentivise small businesses to invest in R&D.

The need for this investigation highlights that R&D claims continue to be under scrutiny, and that claimants should ensure R&D Claims are collated and documented with care.

Swanson Reed supports the efforts of the ATO and AusIndustry to uphold the integrity of the R&D Tax Incentive, and encourages all participants of the programme to review the R&D Tax Incentive guidance material published by these agencies.

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