📌 R&D Tax Incentive - eBulletin

Learn more about the R&D Tax Incentive

Interested in learning more about the R&D Tax Incentive? Join us for one of our upcoming webinars where we will:

walk you through an overview of the program
explain the key eligibility criteria that you should review and assess before you apply
discuss the application process
provide tips for keeping records.

Are you a company planning to apply for an Advance or Overseas Finding?

Companies must apply for an Advance Finding or an Advance Overseas Finding before the end of the income year in which the activities are conducted. For companies with a July to June income year, the deadline for applying is 30 June 2022 for the 2021/22 income year - there is no discretion to accept late applications.

Please note you will need to use the new ANZSRC 2020 Field of Research (FoR) classification when applying for a Finding from 29 June 2022. For applications submitted before this date, you will still use the ANZSRC 2008 FoR codes when registering through the portal. However, when you come to register those activities covered by the Finding, you will be asked to select codes from the ANZSRC 2020 FoR. To assist you in completing your application, refer to the Australian Bureau of Statistics (ABS) website to find the codes for the fields of research relevant to your R&D activities.

You can find out more about applying for an Advance Finding or an Advance Overseas Finding on business.gov.au. For general enquires contact AusIndustry on 13 28 46.

Field of research codes have changed in our forms

What is the Australian and New Zealand Standard Research Classification?
The Australian and New Zealand Standard Research Classification (ANZSRC) is a set of three related classifications developed for use in the measurement and analysis of research and experimental development (R&D) statistics in Australia and New Zealand. Companies registering for the R&D Tax Incentive and registered Research Service Providers (RSPs) collaborating with companies to conduct their R&D activities must select their Field of Research (FoR) from the ANZSRC when applying to register with us.

Changes to the Industry Research and Development Regulations and ANZSRC 2020
The Industry Research and Development Regulations 2022 support the Industry Research and Development Act 1986 and direct the way we manage approved forms, finding certificates and requirements for RSPs. The definition of ‘research field’ in the Regulations has been updated to mean an FoR category mentioned in the ANZSRC 2020 FoR. The previous ANZSRC FoR was dated 2008. The ANZSRC 2020 is found on the ABS website, with information on definitions and how the classification compares to the 2008 version. The ANZSRC was reviewed to ensure the classification reflects current practice and to improve coverage, coherence and consistency across the classification. ANZSRC 2020 was jointly developed by the ABS, Stats NZ, the Australian Research Council and the New Zealand Ministry of Business, Innovation and Employment. The ANZSRC 2020 applies to both RSPs and companies registering their R&D activities.

Are you an RSP planning to renew your registration for the 2022/23 financial year?

The revision to the Industry Research and Development Regulations 2022 requires you to renew your RSP registration against Field of Research (FoR) classifications in the revised Australian and New Zealand Standard Research Classification ANZSRC 2020. To assist you to complete your renewal, the ABS website has information describing the changes between ANZSRC 2008 and ANZSRC 2020. It also has downloadable content with the revised ANZSRC 2020 codes; and a correspondence table between ANZSRC 2008 & ANZSRC 2020 (Excel spreadsheet 1.45MB). You would have received a renewal notice and form on 1 May 2022. For general enquires contact AusIndustry on 13 28 46 or send an email to RSP@industry.gov.au

Are you a company planning to apply to register your R&D activities?

If you are registering activities conducted in the 2020/2021 income year, your application in the customer portal will use the ANZSRC 2008 Field of Research (FoR) classification.

For activities you conduct in the 2021/2022 income year, you will be asked to select the appropriate FoR classification contained in the new ANZSRC 2020 FoR when registering the activities. The ABS website has information on how to find the classification and codes that are relevant to your field of research. For general enquires contact AusIndustry on 13 28 46.