AusIndustry Guidance and Materials

Process for Setting Up MyGovID and Authorisation for New AusIndustry R&D Tax Portal

June 14th, 2021

AusIndustry have changed their reporting processes whereby they are mandating the use of a new online form for FY21 onwards. As part of this, directors of companies using R&D tax advisors to register activities must set up a MyGovID account (or use an existing MyGovID) and link this MyGovID to their R&D-registering company, then link to their R&D tax advisor. Instructions for this process to link Swanson Reed to your company are as follows: Step One: Ensure that the R&D-registering company’s principal individual […]

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Observations from new online R&D Tax Incentive customer portal

June 4th, 2021

Over recent weeks AusIndustry launched their new, online R&D Tax Incentive customer portal which replaces the old PDF Smartform Lodgement system. AusIndustry are mandating that all FY21 R&D Applications are lodged via this new online system, which commences accepting lodgements from Monday 5 July, 2021. There are significant changes from the old system (both in the lodgement process and reporting declarations) and companies who are looking to lodge their FY21 applications soon after the end of the financial year should […]

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AusIndustry Release Draft of New Software Guidance for Consultation

May 31st, 2021

AusIndustry have recently circulated a draft of new guidance on the eligilbity of software development activity under the R&D tax incentive. The guidance does not appear to materially differ from the principles of eligibility in other guidance documents published in recent years. Whilst the eligibility of software R&D activity was certainly scrutinised, particularly during the period from 2017 to 2019, a misconception occurred by some perceiving that software activities are not eligible under the R&D tax incentive. This is certainly not […]

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New AusIndustry Reporting Requirements and Applicant Lodgement Portal

May 18th, 2021

The changes to the R&D tax incentive announced in the October 2020 budget have been passed as law, but do not become effective until 1 July 2021 (FY22). Companies registering activity for the financial year about to end (FY21) will do so under the same legislation in place as in prior years. However, some significant changes to the reporting of the activities have occurred for FY21, based on AusIndustry’s new reporting portal. The portal had been indicated some months ago […]

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