Popular PostsMVP Ventures Program is offering grants of up to $200k for businesses ready to level up their technology Grant Opportunity for NSW Waste and Recycling Projects Funding for International Collaboration Case Study: Modus wins Funding from Manufacturing Modernisation Fund Case Study: First Focus Win Funding from Cyber Security Program
The RDTI Is Being Audited and You Can Have Your Say
Have your say on the effectiveness of the Research and Development Tax Incentive Scheme (RDTI) by writing in to the Australian National Audit Office (ANAO) here. Contributions are open for submission up until 31st May 2021.
The request for public contributions from the ANAO comes after unpopular changes to the RDTI were rolled back in October 2020, yet still, confusion remained over what software research was actually eligible under the scheme.
Calls have been made for a whole separate software-focused RDTI scheme to be created, from tech leaders, who, in March 2021, signed an open letter to the ATO, proposing a collaborative workshop to help overcome a “lack of mutual understanding” over how the scheme works.
What Will Be Audited?
The ANAO will be examining the Department of Industry, Science Energy and Resources, the ATO, and Innovation and Science Australia, and their running of the program.
On the table for discussion is the effectiveness of:
- assessment, compliance and assurance arrangements under the scheme
- measurement and monitoring arrangements
- planning for changes.
How To Have Your Say
If you’d like advice regarding the audit and making a contribution, please feel free to contact our NOAH Connect team for professional assistance. Or discover more about our services and the R&D Tax Incentive Scheme by reading our Case Studies.