Home » News » The Australian National Audit Office to Review Administration of R&D Tax Incentive

The Australian National Audit Office to Review Administration of R&D Tax Incentive

March 22nd, 2021

InnovationAus has reported that The Australian National Audit Office (ANAO) is conducting an audit into the effectiveness of the Industry department and Australian Taxation Office’s administration of the research and development tax incentive (RDTI) program and is expected to table its report in October.

Submissions are able to be made by stakeholders until May 2021.

The audit criteria per the ANAO’s website states that “The ANAO proposes to examine:

  • Are assessment, compliance and assurance arrangements effective?
  • Are performance measurement and monitoring arrangements effective?
  • Has planning for program changes been effective?”

The review comes at an interesting time in the history of the R&D Tax Incentive, and following:

  • An elongated period of proposed, and then finally legislated change to the programme, following enactment of the Government’s enhancements to the programme announced in the October 2020 budget;
  • A turbulent period in the compliance and administration of the programme, including:

o    Mischief by some participants (Advisors and claiming entities), leading to some high profile R&D Tax Disputes and action by the Tax Practitioner board;

o    A widely reported compliance “crackdown” by the regulators;

o    Review into compliance processes by the small business ombudsman, which was critical of programme participants (Advisors, claiming entities and regulators) in its findings;

o    AusIndustry (who jointly administer the programme and make findings on eligibility) announcing in November 2019 that they were overhauling their compliance frameworks to enhance the programme for participants;

o    A number of companies whose claims were previously ruled as ineligible (including Monadelphous, Xped and several resources companies) being successful in challenging or settling disputes around adverse eligibility assessments;

Swanson Reed has noted that in recent times, compliance processes for R&D Claims have continued to occur, but have become reasonable, and that additional guidance published is clear.

Our view is that AusIndustry and ATO are currently suitably fulfilling their roles as regulators of the programme in a balanced and fair manner.

Post a Comment

(*) indicates required field.

Are You Eligible?


Click here for the R&D Eligibility Wizard

R&D Audit Checklist


Click here for the R&D Eligibility Wizard

Categories

Archives

 
  
 Swanson Reed - Specialist R&D Tax Advisors 
 
 
 Swanson Reed - Specialist R&D Tax Advisors
  
 39 Google reviews 
 
  
 
 
 
 
  
 Swanson Reed - Specialist R&D Tax Advisors 
 
 
 Swanson Reed - Specialist R&D Tax Advisors
  
 39 Google reviews 
 
 
 
 
 
  
 
 
 
 Daniel McGregor 
 
 
 Daniel McGregor 
 
2022-08-11
 
 
  
 
I have been using Swanson Reed for my clients for more than a decade.  Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients.
Highly recommended.
  
 
 
  
 
 
 
 John 
 
 
 John 
 
2022-06-15
 
 
  
 
Damian and the rest of the team at Swanson Reed have been supporting us for several years.  We always appreciate their insights, expertise, and efforts.
  
 
 
  
 
 
 
 Rueben Rajasingam 
 
 
 Rueben Rajasingam 
 
2022-06-06
 
 
  
 
Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.
  
 
 
  
 
 
 
 Enrique Esquivel 
 
 
 Enrique Esquivel 
 
2022-06-06
 
 
  
 
Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
  
 
 
  
 
 
 
 Jess at Y&C 
 
 
 Jess at Y&C 
 
2022-06-03
 
 
  
 
  
 
 
  
 
 
 
 Anatole Kononewsky 
 
 
 Anatole Kononewsky 
 
2022-06-02
 
 
  
 
The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
  
 
 
  
 
 
 
 Payam Toloo 
 
 
 Payam Toloo 
 
2022-06-02
 
 
  
 
Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.
  
 
 
  
 
 
 
 Melissa Doddy 
 
 
 Melissa Doddy 
 
2022-05-31
 
 
  
 
The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end.  Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
  
 
 
  
 
 
 
 Gary Watson 
 
 
 Gary Watson 
 
2022-05-31
 
 
  
 
We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.
  
 
 
  
 
 
 
 Rob van den Bergh 
 
 
 Rob van den Bergh 
 
2022-05-31
 
 
  
 
Always professional.