July 5th, 2021
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.