Who are the regulators?
AusIndustry and the
Australian Taxation Office (ATO) undertake risk assessment and compliance reviews. AusIndustry's compliance work focuses on the eligibility of research and development (R&D) activities while the ATO's compliance work focuses on the R&D tax offsets allowable in respect to those activities.
What is the benefit?
refundable (cash) tax offset to eligible entities with an aggregated turnover of less than $20 million per annum.
38.5% non-refundable tax offset to all other eligible entities.
What are the criteria?
- Non-tax exempt corporation that is incorporated in Australia
- Undertaking R&D activities in Australia
When can you submit?
If your company is a R&D entity and you want to claim the R&D Tax Incentive in you company's income tax return, you must first register your R&D activities with AusIndustry (on behalf of Innovation Australia).
You must register your R&D activities:
- For every income year you want to claim the offset
- Within 10 months of the end of your company's income year
- Before you lodge your company income tax return in which you are claiming the offset
What sectors are eligible?
CHECK R&D ELIGIBILITY NOW
To find out more information on what you can claim within these categories, click
here to download an information pack.