{"id":41658,"date":"2023-10-20T15:15:34","date_gmt":"2023-10-20T15:15:34","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/how-to-determine-whether-you-qualify-for-the-rd-tax-incentive-startupsmart\/"},"modified":"2023-10-20T15:15:34","modified_gmt":"2023-10-20T15:15:34","slug":"how-to-determine-whether-you-qualify-for-the-rd-tax-incentive-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/how-to-determine-whether-you-qualify-for-the-rd-tax-incentive-startupsmart\/","title":{"rendered":"How to determine whether you qualify for the R&D Tax Incentive – StartupSmart"},"content":{"rendered":"
My business is innovative and experimenting with new ideas. How do I determine whether we qualify for the R&D Tax Incentive?<\/strong><\/p>\n <\/p>\n The Research and Development (R&D) Tax Incentive program was developed to assist businesses recover some of the costs of undertaking R&D.<\/p>\n <\/p>\n The program is administered jointly by AusIndustry and the Tax Office. The R&D tax incentive provides a tax offset to eligible companies that engage in R&D activities.<\/p>\n <\/p>\n Companies engaged in R&D may be eligible for either:<\/p>\n <\/p>\n <\/p>\n Eligibility begins with the structure that is conducting the R&D. The following are considered eligible entities:<\/p>\n <\/p>\n <\/p>\n If you are operating through an eligible entity, you must register your R&D activities with AusIndustry:<\/p>\n <\/p>\n <\/p>\n This means that you have until 30 April to submit your R&D application with AusIndustry. Once you have met the deadline and submitted your application, AusIndustry will review your activities in order to determine whether they are eligible \u2018core activities\u2019.<\/p>\n <\/p>\n To be eligible, core activities must be experimental. Experimental activities are (as per the Tax Office’s Guide to the Research and development tax incentive):<\/p>\n <\/p>\n <\/p>\n Excluded activities can be found through the AusIndustry website.<\/p>\n <\/p>\n Non-core R&D activities include:<\/p>\n <\/p>\n <\/p>\n The registration of R&D activities is managed by AusIndustry, which checks that the activities comply with the law. The Australian Tax Office (ATO) determines the eligibility of the expenditure claimed in the company tax return.<\/p>\n <\/p>\n A common misconception is that the R&D Tax Incentive is a government grant.<\/p>\n <\/p>\n It is a tax incentive and its benefits flow through the company tax return. This means that the R&D Tax Incentive has nothing to do with government grants.<\/p>\n <\/p>\n The law and logic here is that anyone advising businesses on R&D Tax for a fee must be a registered tax agent. Make sure that your adviser is one and has the experience necessary to guide you. If in doubt, visit the Tax Practitioners Board website.<\/p>\n <\/p>\n One final note \u2013 the deadline for the 2012\/13 financial year for the submission of the R&D application and activity registration form is 30 April 2014. Best to connect with your tax advisor before the April rush.<\/p>\n","protected":false},"excerpt":{"rendered":" My business is innovative and experimenting with new ideas. How do I determine whether we qualify for the R&D Tax<\/p>\n","protected":false},"author":2,"featured_media":60771,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41658"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=41658"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60771"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=41658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=41658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=41658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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