ATO Guidance and Materials

ATO ID 2015/5 Research and Development: Disposal of research & development results and future payments

February 17th, 2015

Does the disposal of research and development (R&D) results provision in section 355-410 of the Income Tax Assessment Act 1997 (ITAA 1997) include amounts from the licensing of intellectual property (IP) payable in the future, subject to achieving future development and sales milestones? Yes. The disposal of R&D results provision in section 355-410 of the ITAA 1997 includes amounts from the licensing of IP payable in the future. These include future payments that are referrable to future development of the IP and […]

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ATO ID 2015/4 Income tax: Research and Development: Disposal of research and development results

February 17th, 2015

Does the R&D disposal of results provision in section 355-410 of the Income Tax Assessment Act 1997 (ITAA 1997) contemplate apportioning an amount received by an R&D entity where the amount comprises of payment for results from research and development (R&D) and non-R&D activities? Yes. Section 355-410 of the ITAA 1997 is only concerned with bringing to account the disposal proceeds for the results for which an R&D entity is entitled to a tax offset under Division 355 of the ITAA 1997 […]

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ATO ID 2015/6 Research and Development: Carry forward R&D tax offsets at joining time for a consolidated group

February 17th, 2015

Can the head company of a consolidated group access the non-refundable carry forward R&D tax offsets available to a joining entity at the joining time?Yes. The head company of a consolidated group can access the non-refundable carry forward R&D tax offsets available to the joining entity at the joining time. In order to apply the carry forward tax offset after the joining time, the head company will need to overcome the limitations in section 65-40 of the Income Tax Assessment Act […]

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New Guidance Relating to Feedstock Adjustments

February 9th, 2015

AusIndustry and the ATO have recently released joint guidance in relation to the calculation and disclosure of feedstock adjustments. The guidance clarifies that companies are able to “opt out” of claiming feedstock inputs if the benefit arising from claiming feedstock inputs as R&D expenditure is not commensurate with the compliance requirements for the corresponding feedstock adjustment. When claiming the R&D Tax Incentive, a company is required to make a feedstock adjustment if it supplies or uses products produced during its R&D activities. […]

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