Ann: Research and Development, page-7

The amounts that the ATO is querying from each refund are below:

• 2015/16 - $963,000
• 2016/17 - $1,086,000

Total amount in question is a whopping $2,049,000

KNL estimated cash balance at the end of the 3rd Quarter (2 days ago) is $2,054,000

If the ATO finds Kibaran or its tax agent has incorrectly claimed R&D refunds and recalls some or all of the money, the company will find itself in a very challenging situation.