Originally posted by robbobrob
Thats because Airtasker were claiming R&D incentives that did not meet the regulatory measures. The ATO have conducted an audit on self-assessed R&D incentives across the board. This is only a problem if the R&D does not meet the regulatory standards.
I would encourage people to read the article and you will see this is not a problem if R&D claims have been submitted correctly.
Do you have reference to where it shows MYQ submitted their claims correctly? I think its only prudent for the company to release an announcemnet to clarify if they've been audited and what was the result of the audit
I'm sure Airtasker thought they submitted their claims correctly, if you read the article you see that the problem applies to all software companies. Unless I missed something, MYQ is a software company.
Some points to consider:
1. MYQ is basically living from loans and R&D rebates
2. Most cash burn relates to management salaries