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ATO and AusIndustry Joint Podcast on R&D Tax Incentive

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.

Source: ATO