Australian Tax Office report shows start-ups, including Atlassian, claimed hundreds of millions in R&D tax incentives while facing layoffs and shutdowns.

A transparency report from the Australian Tax Office reveals that struggling start-ups in Australia claimed hundreds of millions in research and development (R&D) tax incentives, with Atlassian receiving over $200 million in 2021-2022. Despite this support, some companies, like Baraja and Your Grocer, faced layoffs and shutdowns. The findings highlight the role of R&D incentives in the tech sector while raising concerns about their effectiveness in preventing failures among smaller firms.

October 20, 2024
3 Articles