Ann: R&D Tax Incentive Refund, page-41

Some companies have legitimate claims and some are claiming exploration expenditure.

All I am doing is pointing out that MRD has claimed 100% of their exploration expenditure as R & D. Exploration expenditure is excluded from R & D grants. It might be hard to convince the ATO you were carrying out R & D when you are on public record that you spent the money on mineral exploration.

It's not like they have put in their accounts that they did R & D. It's pretty clear when you read their accounts the money was used for exploration.

Also, no Company accountant would put R & D grant application into the financials before it has been received that's just stupid. They only show up in the accounts once the money is recieved.

Auditor: Whats this payment from the Government for
Com Sec: oh that is our R & D grant money
Auditor: Ok great

Even if the Auditor decided to research a grants application he would see (because he read the guidelines) that no application is refused and the company will get what it claims.