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  • Keeping records

    Business records

    Your business records must be sufficient to verify the amount of the expenditure incurred on R&D activities, the nature of the R&D activities and the relationship of the expenditure to the activities.

    You should keep documents to show how you apportioned expenditure between your eligible core R&D activities and supporting R&D activities as opposed to your other non-R&D activities. It is your responsibility to satisfy us that you use reasonable methods to differentiate between your expenditure on R&D activities and your expenditure on non-R&D activities.

    Specific R&D records

    You will need to retain documents such as reports detailing the R&D activities you carried out, who conducted the R&D activities and the time your staff spent on the R&D activities.

    Records must generally be kept for a minimum of five years. A penalty may be imposed if proper records are not kept.

    You can find more information about keeping records to substantiate registered R&D activities, on the Department of Industry, Innovation and Science websiteExternal Link.

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    Last modified: 26 Jun 2017QC 24608