Update: ATO to disclose R&D expenditure information in September 2024

As part of the changes made to the research and development tax incentive (R&DTI) from 1 July 2021, the ATO is now required to publish information each year about R&D entities and the R&D expenditure they’ve claimed.

As the R&DTI aims to boost competitiveness and improve productivity across the Australian economy, the intent of publishing this information is to improve public accountability for R&D claimants and to encourage voluntary compliance.

Publishing of the data will occur a minimum of two years after the end of the financial year in which the R&D expenditure was claimed. The first publication will be made in September 2024, and include the below information for R&D entities that lodged a 2022 company tax return including an R&D tax offset within, and whose income year began on or after 1 July 2021:

• name of the entity claiming the R&D tax incentive
• Australian business number (ABN) or Australian company number (ACN)
• entity’s total expenditure on R&D (known as total notional deductions claimed – label Z in Part A of the R&D tax incentive schedule) less any feedstock adjustments (label B in Part B of the R&D tax incentive schedule).

The ATO has started emailing tax agents who represent clients whose information will be published in September 2024.

The ATO has provided more information about this new requirement.