ATO Notes Areas of Concern for Research and Development Tax Incentive Claims

The Australian Taxation Office (ATO) has issued a notice to advisers (and taxpayers) on its areas of concern in relation to research and development tax incentive claims. The ATO has also updated its guidance on getting R&D claims right, including the following list of areas of concern:

• Ordinary business activities vs eligible R&D activities;
• Apportionment of overheads;
• R&D activities delivered by associated entities;
• Expenditure that isn't at risk;
• R&D activities conducted…