Six companies each claimed more than $100 million through Australia’s research and development tax incentive in the 2022-23 financial year, with new claims totaling $1.2 billion.
Newly released Tax Office data shows Atlassian was the top user of the scheme for a second year in a row, claiming $220 million, followed by Andrew Forrest’s Fortescue ($151 million) and hearing implant company Cochlear ($137 million).
The other biggest users of the scheme offering tax breaks for eligible R&D activities include flour manufacturer Manildra, CSL and sleep device maker Resmed, together claiming $336 million.
Want to know how this story ends?
Become a subscriber for complete access to all stories on InnovationAus.com and our daily newsletter.
Do you know more? Contact James Riley via Email.