Australian Tax Office issues Taxpayer Alert on R&D activities conducted overseas for foreign related entities

26 February 2024|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation|Australia

Taxpayer Alert 2023/5 highlights risks with research and development (R&D) activities ultimately conducted for foreign affiliated entities.
Affected taxpayers broadly include inbound life science companies that were incorporated by a foreign parent to undertake clinical trials.
R&D tax incentive offsets may have been incorrectly claimed as Australian-owned under Australian R&D tax law, when the R&D activities actually were conducted to a significant extent for the foreign affiliate…

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