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ATO Guidance and Materials

Finalised Tax Determination on Aggregated Turnover and Connected Entities – Commissioner’s Discretion That an Entity Does Not ‘Control’ Another Entity

October 11th, 2023

After previously issuing a draft ruling in June 2023, the ATO in September 2023 has now finalised and published Tax Determination TD  2023/5 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 […]

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Interaction between R&D Tax Incentive and Small Business Technology Investment Boost

September 18th, 2023

Under the recently enacted small business technology investment boost, small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction to support their digital operations and digitise their operations. The boost applies to eligible expenditure incurred between 7:30 pm AEDT on 29 March 2022 and 30 June 2023. The boost is for business expenses and depreciating assets and is capped at $100,000 of expenditure per income year. You can receive a […]

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ATO Guidance Update: Claiming the R&D tax incentive this tax time

August 22nd, 2023

The ATO has circulated a guidance update on August 17 2023 titled “Claiming the R&D tax incentive this tax time”. The ATO guidance update outlines key factors for claimants to consider, including: review of technical eligibility using the instructions for the 2023 schedule use of the ATO R&D calculator to help calculate your R&D tax incentive claim. direction around how offset rates are different depending on a company’s aggregated turnover and R&D intensity that R&D activities conducted overseas must be covered by an Overseas […]

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Joint AusIndustry and ATO Information Sessions in August

August 2nd, 2023

AusIndustry have announced that on Thursday the 24th of August, they will be conducting a joint event with the ATO to provide introductory level information regarding the R&D Tax Incentive. The sessions are noted as covering: The benefits offered by R&D Tax Incentive Who can apply What R&D activities and expenditure are eligible The importance of record keeping When and how to apply Information regarding registration to attend the session is available on the AusIndustry website. Please get in touch […]

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