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Accounting Essentials

The ATO has reported a continuing high error rate for R&D Tax Concession and Incentive claims made by accounting practices with limited exposure to the R&D Tax legislation. The following are the most common problem areas. The first two are simply resolved and the last is a problem only in that it creates confusion as to the ability to lodge the ATO Tax Concession Schedule without a registration number.

  1. Substituted Accounting Periods
  2. Payment to Associates
  3. Deductibility of R&D Expenditure Under Other Provisions
  4. Deferred Franking Credits
  5. GST
  6. Lodgement Timing Differences

We work with a number of medium to small accounting houses who appreciate the confidential and professional service we provide.

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