The Inspector-General of Taxation (IGOT) conducted a review into the ATO’s handling of complex matters, including Research and Development (R&D) syndicates. The review was published in August 2007. The IGOT recommended the ATO review R&D settlement cases and reconsider whether it was fair to settle with those investors without advising them that general guidelines were also being developed.
The ATO has now advised that the review is now complete and that it has decided not to reopen the settlements. All affected taxpayers will be advised.
For a copy of the ATO advice, go here