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Did you engage in research and development activities last year?

Did you engage in research and development activities last year?

If your business conducted research and development (R&D) activities, you may be eligible to claim a tax offset under the R&D tax incentive.

If you’re eligible, you can claim the R&D tax incentive by completing the R&D tax incentive schedule and lodging it with your company tax return.

See the R&D schedule instructions for information on how to complete the schedule. You can also use the R&D tax incentive calculator which will help you work out the amounts you’re eligible to claim.

If you plan to continue conducting R&D activities this income year, you need to register the activities, even if you’ve registered previously.

Remember, the team at Paris Financial is here to help. Contact us today!

Source: ATO Newsroom


Tags: Research & Development |