Millions of dollars have been rorted from a federal government scheme introduced to encourage Australian companies to invest in research and development, including claims from bankrupts, a property spruiker and a disgraced businessman.
The Research and Development (R&D) Tax Incentive program is the government’s largest industry innovation package, providing about $3 billion in tax offsets to businesses each year. But serious concerns have been raised about compliance and enforcement.
Fairfax Media can reveal the scheme has been abused by notorious property spruiker Jamie McIntyre, former bankrupt Ramon Russell and accountant Arjuna Samarakoon, who has pleaded guilty to three fraud charges following an investigation by the Australi…
Read the full article at: http://www.smh.com.au/national/investigations/millions-rorted-from-government-rd-scheme-20170703-gx3b79.html
