Examples of acceptable records

The following list shows some of the types of records kept for tax or business purposes generally, that may help you to substantiate your R&D claim:

  • project plans and design specifications
  • contracts between yourself and people conducting work for you
  • contracts between yourself and a third party for which you have agreed to develop a product
  • progress reports
  • sales and purchase tax invoices
  • receipts
  • bank statements
  • diaries
  • expenditure journals and cash books
  • R&D working papers
  • financial statements
  • apportionment based log books
  • credit card statements
  • bank deposit books and cheque butts
  • bank account statements employee records such as copies of tax file number declarations, wage books, time sheets and super records
  • motor vehicle expenses, including logbooks
  • debtors and creditors lists
  • records of depreciating assets
  • stocktake records
  • records of any private use in relation to assets or other purchases
  • timesheets.

Note: This is not a complete list.

End of attention
    Last modified: 19 Jun 2012QC 26104