Australia’s R&D Tax Incentive program is designed to encourage innovation by providing tax refunds to eligible companies based on their R&D spending. However, companies face a refund cliff if their revenue exceeds the legislated turnover threshold. A company’s rate of R&D tax offset and whether it is refundable or not depends primarily on the R&D entity’s aggregated turnover: If an entity’s aggregated turnover is less than $20 million and it is not controlled by any exempt entities, then the company […]
Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do so should note that the Registration Deadline is 10 Months after YE, and 30 APRIL 2024. The blanket and automatic extensions granted during COVID do NOT apply any longer or for FY23 claims. Extensions of time may be available in certain situations, and extension applications lodged BEFORE the original deadline are viewed much more favorably. However, recent […]
Where relevant, the content of this video may have been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively published by the programme regulators on their respective websites: ATO AusIndustry
Where relevant, the content of this video may have been based on guidance publications released by AusIndustry and the ATO. Additional guidance material on the R&D Tax Incentive is often progressively published by the programme regulators on their respective websites: ATO AusIndustry