Research & Development Tax concession deadline

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Australian incorporated or tax resident companies undertaking eligible research and development activities may qualify for the R&D tax incentive. This comprises either:

  • A 45% refundable tax offset for companies with aggregated annual turnover of less than $20 million (this is equivalent to a 150% tax deduction); and
  • A non-refundable 40% tax offset for larger companies (this is equivalent to a 133% tax deduction).

Overseas companies conducting R&D in Australia may also qualify.

Registration deadlines

Eligible companies must be registered with AusIndustry (on behalf of Innovation Australia) to claim the R&D tax concession.

The deadline for lodging a standard application for R&D registration is ten months after year end. For companies with a 30 June year end the registration deadline is 30 April 2014 in relation to the year ended 30 June 2013.

Companies can also request an advance finding on whether their activities qualify for the R&D concessions. Applications for the current tax year must be lodged by 30 June 2014.

Companies conducting part of their R&D activities overseas must obtain an advance overseas finding before claiming for those activities. This is only available where the activities cannot be conducted solely in Australia.

Does your company qualify?

The AusIndustry R&D Tax Incentive Online Eligibility Tool can help you decide whether your company’s activities qualify for the R&D tax concession.

Please contact us if you require more information.