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Deferred Franking Debits

March 16th, 2014

Does the R&D refundable tax offset generate a franking debit in my franking account? Generally, a franking debit arises in your entity’s franking account when you receive a refund of income tax which includes a refunded amount from a tax offset. However, special rules ensure that the amount of R&D tax offset refunded is not immediately reduced as a result of the entity becoming liable to franking deficit tax. The franking debit that usually arises when a refund of income […]

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Deductibility of R&D Expenditure Under Other Provisions

March 16th, 2014

If an amount is eligible to be claimed under the R&D tax incentive, you must claim it under Division 355 of the Income Tax Assessment Act 1997 (ITAA 1997). The answer to the frequently asked question explains this rule further. I have registered my R&D activities but want to claim some of the expenditure on those activities under section 8-1 of the ITAA 1997. Can I do this? No. Amounts incurred on your registered R&D activities must be claimed under […]

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Payment to Associates

March 16th, 2014

R&D entities are only eligible for a R&D Tax offset for R&D expenditure incurred by an associate entity if the expenditure has been paid during the claim period. If you incur an amount of expenditure to an associate and you pay the amount in the same year, you can include this amount when working out your R&D tax offset in that year (if you meet all other eligibility requirements for the R&D tax incentive). Paying an amount to an associate […]

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Substituted Accounting Period

March 13th, 2014

The R&D tax incentive applies to income years beginning on or after 1 July 2011. If your 2012 tax return is for a substituted accounting period beginning before 1 July 2011, you are unable to claim the R&D tax incentive in your 2012 tax return; however, if you have conducted R&D activities and meet the eligibility requirements for the R&D tax concession, you can claim the R&D tax concession for that year. The answers to these frequently asked questions help […]

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R&D Audit Checklist


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Bryce Steele
Principal, Melbourne
Tom Parkhouse
Principal, Sydney
Andy Nguyen
Principal, Brisbane
Holly Parkinson
Manager, Adelaide
David Greatwich
Principal, Perth
Krishna Gungaram
Manager, Hobart

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