ATO Guidance and Materials

ATO ID 2013/12 Income Tax Research and Development: transitional substituted accounting period (SAP) access to research and development tax incentive

August 19th, 2014

Is a transitional substituted accounting period (SAP) of less than 12 months that commences on or after 1 July 2011, for which an assessment is issued under section 168 of the Income Tax Assessment Act 1936 (ITAA 1936), an ‘income year’ to which Part 1 of Schedule 4 of the Tax Laws Amendment (Research and Development) Act 2011 (the R&D Act) applies, for the purposes of Division 355 of the Income Tax Assessment Act 1997 (ITAA 1997)? Yes. A transitional SAP year of less than 12 […]

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ATO ID 2013/11 Income Tax Research and Development – tax incentive – combination of exempt entities

August 19th, 2014

Will Item 2 of the table in subsection 355-100(1) of the Income Tax Assessment Act 1997 (ITAA 1997) apply to a company when two or more exempt entities who are not affiliates, together beneficially own interests in the company carrying more than 50% of the voting rights or rights to a distribution of income or capital? Yes. Item 2 of the table in subsection 355-100(1) of the ITAA 1997 will apply to the company where two or more exempt entities, irrespective of […]

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ATO ID 2012/89 – R&D Feedstock adjustments – creation of a prototype

August 15th, 2014

Does a ‘feedstock adjustment’ arise under section 355-465 of the Income Tax Assessment Act 1997 (ITAA 1997) in relation to expenditure incurred by an ‘Research and Development (R&D) entity’ in creating a prototype which is a depreciating asset, but not one used in acquiring or producing any ‘feedstock inputs’? Simply, the answer is no. A feedstock adjustment does not arise under section 355-465 of the ITAA 1997 where an R&D entity incurs expenditure on constructing a prototype which is a tangible depreciating […]

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ATO ruling on software development

March 20th, 2014

On 12 March 2014, the ATO issued Taxation Ruling TR 2014/1 titled “Income tax: commercial software licensing and hosted agreements: derivation of income from agreements for the right to use proprietary software and the provision of related services”. This ruling deals with when commercial software developers derive income for the purpose of s 6-5 of the Income Tax Assessment Act (ITAA) 1997 from: (i) licence agreements for proprietary software; and (ii) hosted or cloud arrangements for use of proprietary software. […]

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