Don’t miss the research and development (R&D) tax incentive April deadline.
The R&D tax incentive provides a tax offset for some costs relating to doing eligible research and development activities.
The lodgement deadline is April 30.
Tax offsets of 43.5 percent, or 38.5 percent, are available for costs incurred on eligible activities, depending on a company’s aggregated turnover. The 43.5 percent benefit is a refundable offset.
Applications can be made at any time and the deadline for lodging an application to register your eligible R&D is 10 months after the end of your company’s income year.
This means:
- A company with a non-standard income period of 1 January 2016 to 31 December 2016, must lodge its registration application with the department by 31 October 2017.
- A company with a standard income period of 1 July 2016 to 30 June 2017 must lodge its registration application with the department by 30 April 2018.
AusIndustry is available to provide eligibility guidance and to assist with registration applications.
Contact your local AusIndustry Regional Manager Rowena Ryan on 0418 982 092 or email Rowena.Ryan@industry.gov.au.
