From www.pwc.com.au: In 2024, significant updates occurred regarding Australia’s Research and Development (R&D) tax incentive, including new guidance from AusIndustry and the ATO, which emphasized proper record-keeping for improvement in claim processing.

AusIndustry introduced new finding application forms and published the first transparency report detailing R&D claimants’ expenditures.

The Administrative Review Tribunal began operations, taking over from the AAT for reviewing R&D tax incentive decisions, with joint compliance reviews continuing into 2024.