• Careteq issued amended assessments from the ATO for R&D Tax Incentive claims
• Assessments require repayment of previously received R&D Tax Incentive refunds and interest
• Careteq strongly disputes the assessments and intends to lodge a formal objection

Careteq Limited (ASX: CTQ), a clinical healthtech company, has been issued amended assessments from the Australian Taxation Office (ATO) in relation to claims made under the Australian government's Research and Development Tax Incentive (R&D Tax Incentive) for the financial years ended 30 June 2021, 2022 and 2023. The Amended Assessments require the repayment of previously received R&D Tax Incentive refunds along with associated interest. The total amount sought by the ATO comprises the repayment of R&D Tax Incentive refunds of $2,615,277.43 and interest of $340,945.52. Careteq, supported by its legal advisers, strongly disputes the Amended Assessments and intends to lodge a formal objection with the ATO within the prescribed 60-day period. The company maintains its strong conviction in the eligibility of its R&D activities for the R&D Tax Incentive scheme and the validity of its R&D Tax Incentive claims for the periods in question. Careteq will continue to engage constructively with the ATO throughout the objection process, supported by its legal advisor MinterEllison. Should the objection be unsuccessful, Careteq will consider seeking further external review of the ATO's decision.