Registrations now open for the R&D Tax Incentive

The new financial year has heralded the launch of the application form for the registration of R&D activities under the new R&D Tax Incentive, which opened on 1 July 2012. The Application Form for Registration is now available from AusIndustry.

AusIndustry advises that registration takes place on an annual basis after activities have been undertaken. Companies must be registered with AusIndustry before they are able to claim the R&D Tax Incentive in their annual income tax return. An application for registration is due within 10 months after the end of the company's income year in which eligible activities were conducted.

The R&D Tax Incentive replaced the R&D Tax Concession for all income years commencing on or after 1 July 2011.

The application form is a SmartForm with dynamic questioning and built in guidance to assist an applicant with the information sought in the application. Application Notes are available that consolidate the help within the SmartForm. The application notes and further information about the R&D Tax Incentive, registration and eligibility of R&D activities can also be found on AusIndustry's website.

AusIndustry is a specialist program delivery division in the Department of Industry, Innovation, Science, Research and Tertiary Education with responsibility for delivering the R&D Tax Incentive program on behalf of the Australian Government.