ATO Guidance and Materials

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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ATO ID 2010/74 Income Tax R&D tax concession: meaning of ‘primarily’ in paragraph 73B(14C)(c) of the Income Tax Assessment Act 1936

August 20th, 2014

Can the requirement in paragraph 73B(14C)(c) of the Income Tax Assessment Act 1936 ( ITAA 1936), that activities need to be carried on ‘wholly or primarily on behalf of the foreign company’ be met, where the relevant activities are not carried out by the eligible company solely on behalf of the foreign company? Yes. The requirement in paragraph 73B(14C)(c) of the ITAA 1936 can be met if the R&D activities are carried on chiefly or mainly on behalf of the foreign company. […]

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