Register R&D activities for the R&D Tax Incentive
Companies must register R&D activities with AusIndustry within 10 months of the end of the income year.
Who must comply
Companies claiming the R&D Tax Incentive.
What triggers it
Conducting eligible R&D activities.
When due
Registration within 10 months of end of income year.
Evidence required
Activity registration, contemporaneous records, technical evidence, expenditure substantiation.
Max penalty
Tax shortfall + interest + recklessness/intentional disregard penalties up to 75%
Summary
The R&D Tax Incentive is administered jointly by AusIndustry (registration of activities) and the ATO (tax offset). Companies with annual turnover <$20M receive a refundable offset; others a non-refundable offset. Activities must meet the 'core' and 'supporting' R&D tests. Documentation requirements are intensive.
Enforced by
Source legislation
Entity types
Topics
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Frequently asked questions
- Who must comply with R&D activities for the R&D Tax Incentive?
- Companies claiming the R&D Tax Incentive.
- What triggers R&D activities for the R&D Tax Incentive?
- Conducting eligible R&D activities.
- When is R&D activities for the R&D Tax Incentive due?
- Registration within 10 months of end of income year.
- What is the maximum penalty for R&D activities for the R&D Tax Incentive?
- Tax shortfall + interest + recklessness/intentional disregard penalties up to 75%
- What evidence is required for R&D activities for the R&D Tax Incentive?
- Activity registration, contemporaneous records, technical evidence, expenditure substantiation.
Source: https://business.gov.au/grants-and-programs/research-and-development-tax-incentive. Rules Mate is not a law firm. Always verify against the live regulator source before acting.