What amount is included by the company in calculating the amount of ‘R&D group turnover’ for the purposes of determining the company’s entitlement to the research and development (R&D) tax offset under section 73J of the Income Tax Assessment Act 1936 (ITAA 1936), where a licence fee under an agreement is payable over four years of income? The amount included in the calculation of the company’s ‘R&D group turnover’ for the current year of income, for the purposes of determining […]
Does the taxpayer satisfy the requirement of establishing a three year history outlined in paragraph 73Q(1)(b) of the Income Tax Assessment Act 1936 (ITAA 1936), for the three years preceding the 2002 financial year? Yes. The taxpayer was in receipt of an Research & Development (R&D) Start Grant for the 1999 and 2000 financial years and was registered with the Industry Research and Development Board (IRDB), under section 39J of the Industry Research and Development Act 1986 (IR&DA) for the 2001 financial year. The […]
This calculator helps you calculate your research and development (R&D) tax offset claim. The research and development (R&D) tax incentive provides a targeted tax offset to encourage certain companies (R&D entities) to conduct R&D activities that benefit Australia. It provides generous benefits for companies performing eligible R&D activities and has the following two core components: a 43.5% refundable tax offset for eligible entities with an aggregated turnover of less than $20 million – unless they are controlled by tax exempt […]
This Taxation Determination is concerned with where an R&D entity 1 incurs expenditure on various stages of design activities ( Design Expenditure ), connected with it beginning to hold a tangible depreciating asset, where that expenditure also falls within the terms of section 355- 205.2 This expenditure will typically be incurred in cases where the R&D entity is constructing the asset itself, or having another entity construct it on its behalf, as distinct from acquiring the asset ‘off the shelf’. […]