When are you liable to pay the clawback adjustment amount?

You are liable to pay the extra income tax on a recoupment you receive in the year in which you receive it - that is, the 'trigger year'. This is the case regardless of whether you claimed the related R&D tax offsets in the same, an earlier or a later income year. If you received offsets in later income years, your past income tax assessments may need to be amended.

    Last modified: 25 Oct 2016QC 24623