September 10, 2019 by Athena Thompson
As on our homepage, rather than recreate the wheel, the Government provides an excellent resource which provides background info and basic examples on what the R&D Tax is and how it can fit within your business.
As the Department of Industry, Innovation and Science (AusIndustry) and the Australian Taxation Office (ATO) jointly administer the R&D tax incentive, we’ve given you the most relevant links to each for a business. And if you’re an accountant, we’ve also provided additional details just for you.
Department of Industry, Innovation and Science (AusIndustry)
The department manages the registration of R&D activities. Here are links to the resources they manage:
R&D Tax Incentive captures all information relating to the program under mandate of the department
Sectoral guidance documents will help to clarify the eligibility of sector specific activities under the R&D Tax Incentive
Information sessions are for companies who are undertaking R&D, but have not yet registered for the R&D Tax Incentive programme or who might like a refresh. You’ll also have the opportunity to speak with Customer Service Managers at the end of the session.
Australian Taxation Office
The ATO manages the rules on eligible entities and costs, here are links to the resources they manage:
R&D Tax Incentive captures all information relating to the program under the mandate of the ATO.
Amounts you can claim on the R&D Tax Incentive.
Using professional help
If you are paying a consultant to help prepare an R&D Tax Incentive application you need to ensure they are a registered tax agent. It is a civil offence for someone to charge to assist with R&D without being a certified tax agent. You can search the Tax Practitioner Board’s register.
Accountants & Tax Agents
e-learning is provided for accountants and tax agents to provide basic understanding of R&D Tax principles.
Information sessions and workshops are run for tax agents and consultants who are considering assisting clients to register for the programme, or who would like to refresh their knowledge of the programme.