Reported companies
There are 13,490 companies represented in the Report of data about research and development tax incentive entities 2023–24. They claimed $16.7 billion in R&D expenditure for the 2023–24 income year. The report also includes an additional 342 companies that made R&D claims for an earlier income year after the cut-off date for inclusion in previous reports.
The Report of data about research and development tax incentive entities includes companies that have substituted accounting periods for the relevant income years. This year, complete datasets are available for both the 2023–24 and 2022–23 income years. This means a direct like-for-like comparison can be made between the 2 years.
Reported population
The Report of data about research and development tax incentive entities population includes:
- companies with an eligible expenditure greater than $20,000, and turnover of less than $20 million, who are eligible for the refundable offset
- companies with an eligible expenditure greater than $20,000, and turnover greater than $20 million, who are eligible for the non-refundable offset
- both Australian-owned and foreign-owned companies which are Australian residents for income tax purposes.
Total expenditure
Public and multinational businesses claimed the most R&D expenditure for the 2023–24 income year with a total of $9 billion. This was followed by privately owned and wealthy groups with $4.6 billion, and lastly small businesses with $3.1 billion in R&D expenditure claimed.
This represents a 3% increase on the prior year's total of $16.2 billion R&D expenditure, representing a growth in expenditure claimed.
Graph 1 – Total R&D expenditure for the 2023–24 and 2022–23 income years
Business population
The companies in the 2023–24 transparency report are:
• 51% (6,920) small businesses (companies with an aggregated turnover of less than $10 million)
• 31% (4,116) privately owned and wealthy groups (companies and their associated subsidiaries with an annual turnover of more than $10 million that aren't public groups or foreign owned)
• 18% (2,449) public and multinational businesses (publicly listed Australian and multinational companies).
Graph 2 – R&D population count for the 2023–24 and 2022–23 income years
Table 1 shows the average claim per entity in each business population.
|
Business population |
Average claim per entity in 2023–24 ($) |
Average claim per entity in 2022–23 ($) |
|---|---|---|
|
Public and multinational businesses |
3,661,002 |
3,599,102 |
|
Privately owned and wealthy groups |
1,118,305 |
1,111,133 |
|
Small businesses |
448,088 |
403,232 |
Note: Not-for-profit organisations aren't included in the breakdown and analysis, as only 5 organisations claimed the R&DTI for the 2023–24 income year. This number is too small to be evaluated.
Top 10 highest claims
Table 2 details the top 10 companies across all industries according to their R&D expenditure claims for the 2023–24 income year.
|
Company name |
Company ABN |
Total R&D expenditure ($) |
|---|---|---|
|
ATLASSIAN AUSTRALIA 1 PTY LTD |
98166799542 |
236,287,319 |
|
FORTESCUE LTD |
57002594872 |
155,183,626 |
|
COCHLEAR LIMITED |
96002618073 |
145,768,412 |
|
CSL LIMITED |
99051588348 |
113,700,731 (amended to 111,193,525) |
|
RIO TINTO LIMITED |
96004458404 |
105,199,647 |
|
RESMED HOLDINGS PTY LTD |
28003765133 |
104,015,053 |
|
LANAI (AU) 1 PTY LTD |
86652351909 |
101,901,863 |
|
CHEVRON AUSTRALIA HOLDINGS PTY LTD |
60098079344 |
98,185,698 |
|
SHELL ENERGY HOLDINGS AUSTRALIA LIMITED |
69054260776 |
85,910,938 |
|
BLACQUA PTE. LTD. |
62169810011 |
85,288,568 |