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AusIndustry Guidance and Materials

FY23 R&D Registrations Now Open

July 3rd, 2023

Companies are now able to register R&D Activities conducted during the year ended 30 June 2023 (FY23) with AusIndustry. For the FY23 period, the application process is again administered through the new online customer portal which was introduced for the prior FY21 period. There were substantial changes made to the R&D Activity technical description requirements in FY21, however the AusIndustry activity disclosure requirements for FY23 appear not to have materially changed. In addition, as the major changes for calculation of […]

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New Draft Tax Determination on Aggregated Turnover and Connected Entities – Commissioner’s Discretion That an Entity does not ‘Control’ Another Entity

June 29th, 2023

On 28 June 2023 the ATO has published Draft Tax Determination TD 2023/D2 on aggregated turnover and connected entities – Commissioner’s discretion that an entity does not ‘control’ another entity. Under the R&D Tax Incentive a company’s rate of R&D tax offset and whether it is refundable or not depends primarily on the R&D entity’s aggregated turnover: If an entity’s aggregated turnover is less than $20 million and it is not controlled by any exempt entities, then the company can […]

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Deadline Approaching for lodgement of Overseas Findings for R&D Activity first conducted in FY23

May 18th, 2023

Companies seeking to claim expenditure for overseas activity incurred by an Australian company under the R&D Tax Incentive must apply separately to claim these costs by lodging an Overseas Finding Application with AusIndustry. In addition to general eligibility criteria, there are specific and extensive rules to determine whether expenditure on overseas activities is eligible under the R&D Tax Incentive. Generally, R&D activities conducted overseas can only be eligible for the R&D Tax Incentive where: The activity to be conducted overseas has a […]

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New AAT Case (LAKES OIL) finds Hydraulic Fracturing Activities NOT eligible under the R&D Tax Incentive

May 8th, 2023

A recent AAT Decision dated 26 April 2023 (LAKES OIL NL and INNOVATION AND SCIENCE AUSTRALIA (Taxation) ) has found a company’s registered activities were not eligible under the R&D Tax Incentive. The project under scrutiny in the case is entitled “Project 1 – LAK2006 ‘Hydraulic Fracturing Technology for Gippsland Tight Gas’”. The dispute was focused on a registration in the FY14 and FY15 period. During the case INNOVATION AND SCIENCE AUSTRALIA contended that: the activities undertaken were not experimental […]

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