Status: The R&D Tax Concession was replaced on 1 July 2011 by the R&D Tax Incentive.
Research and development activities and expenditure in income years prior to 1 July 2011 should be registered and claimed under the R&D Tax Concession.
Annual registration of R&D activities with Innovation Australia is a prerequisite for companies claiming the R&D Tax Concession. Applications are received based on individual company reporting periods.
Companies applying for registration under the R&D Tax Concession for:
- a standard income year ending 30 June 2011 - must do so by 30 April 2012; or
- a calendar income year ending 31 December 2011 - must do so by 31 October 2012.
Electronic applications must be lodged by midnight local time. Hard copy (paper-based) applications must be received by 5.00pm local time.
Description: The R&D Tax Concession is a broad-based, market driven tax concession which allows companies to deduct up to 125% of qualifying expenditure incurred on R&D activities when lodging their corporate tax return. A 175% Incremental (Premium) Tax Concession and R&D tax offset are also available in certain circumstances.
Contact: If you have an inquiry about the R&D Tax Concession or the R&D Tax Incentive contact the AusIndustry Hotline on 13 28 46 or email hotline@AusIndustry.gov.au.