📌 R&D Tax Incentive - eBulletin

Your views matter: Research and Development Tax Incentive Determination consultation

The department is now consulting on the draft Industry Research and Development (R&D Tax Incentive on clinical trials, Phase 0, I, II, III for an unapproved therapeutic good) Determination 2021. This will be the first determination for the R&D Tax Incentive.

We welcome your feedback.

This determination will facilitate registration to the program for companies involved in certain clinical trials. Determinations are binding on Industry Innovation and Science Australia (IISA) and its delegates.

To participate in the consultation process and to read a draft of the determination please visit the department’s consultation hub.

The department is also running information sessions should you have questions about the draft determination. Feedback on the draft determination must be submitted through the consultation hub.

Register for an information session here.

Research and Development (R&D) 'at risk' rule

Find out how the ‘at risk’ rule may affect your claim for an R&D tax offset.

The Australian Taxation Office (ATO) has finalised the guidance on the ‘at risk’ rule and how it applies to expenses claimed under the Research and Development (R&D) Tax Incentive:

TD 2021/9 Income tax: JobKeeper payments received or expected as a result of research and development expenditure

TR 2021/5 Income tax: research and development tax offsets – the ‘at risk’ rule

The R&D Tax Incentive allows companies to claim a tax offset for their R&D expenses through the lodgment of their annual company income tax return. Smaller companies may claim the R&D Tax Incentive as a refundable tax offset.

Claims for R&D tax offsets may be denied or reduced where the expenditure doesn’t satisfy the at-risk rule, such as where expenses are fully or partly reimbursed

Upcoming Events

Guide to the R&D Tax Incentive

For those new to the R&DTI, this hour long session 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, and provide tips for keeping records.

R&DTI Guide to Interpretation

If you are already familiar with the R&DTI but would like to take a deeper dive, this session is for you. In this hour long session we’ll explore the detail of the Guide to Interpretation including how you can assess your company’s eligibility for the program, explain the expectations around evidence and record-keeping and discuss some of the common errors made in applications.

Guide to the accessing the R&DTI customer portal

This 45 minute session will help new users to complete the authorisation process and log in to the R&DTI customer portal. We’ll show you how to establish portal access for a principal authority and how to authorise portal access for staff, an individual tax agent and a tax agency.