AusIndustry and the ATO have published a joint podcast on business.gov.au this week, featuring Brett Challans (ATO) and Kelly Wiggins (DISER).
The podcast discusses key R&D Tax Incentive issues relevant to each department, including:
- Eligible entities;
- The self-assessment process;
- Categories of ineligible expenditure;
- Records relevant to substantiating the R&D process through systematic progression of work i.e. from hypothesis to conclusions. E.g. emails, project plans, annual reports, lab notebooks and meeting minutes;
- Records relevant to substantiating expenditure including invoices, contractors and employee activity reports;
- Logistics of the registration and claiming process;
- Common mistakes often cited by the programme regulators.
The podcast is available on The Government’s website.