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FY21 R&D Registrations Now Open

Companies are now able to register R&D activities with AusIndustry for the year ended 30 June 2021 (FY21).

For the FY21 period, the application process is now administered through the new online customer portal which has presented a number of changes over the previous processes, including:

• The need for the company director to have established a MyGovID account linked to the R&D entity and their R&D tax agent;
• New questions and reporting fields in the R&D application, including:

• • Details of relationship between core and supporting activities;
  • Details of the process companies went through prior to conducting R&D activities to determine that the knowledge sought was new, and the outcome of the activities was unknown;
  • A breakdown of registered expenditure for each of the registered activities;
  • Details of whether supporting activities produce goods or services;
  • Description of what evidence the company has kept in respect of registered activity.

We also understand that companies can no longer submit attachments within the AusIndustry R&D application and are to use the additional text fields to describe their activities within the application.

Read about how to link your MyGovID to your R&D tax advisor here.