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READ MORECBA backs down from $100m ATO stoush
The Commonwealth Bank has dropped a seven-year long dispute with the tax office over a rejected research and development (R&D) rebate worth as much as $100 million.
CBA, advised by professional services giant Deloitte, had said that its multiyear "CBA core banking modernisation project", which cost more than $1 billion, was eligible for the R&D incentive, which is designed to support innovative projects.
Read more at the Financial Review
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