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  • Other things to be aware of

    If you are an eligible R&D entity and you want to claim the R&D tax incentive, consider the following other requirements, including that you:

    • must register your R&D activities every year
    • can notionally deduct expenditure on R&D activities
    • may need to adjust your income tax return if    
      • you have received a government recoupment (clawback adjustment)
      • your eligible activities have produced tangible products for supply to someone else, or to be applied to your own use – other than in transforming these products for supply (feedstock adjustment)
      • you are registered for GST
    • must claim your R&D tax offset by lodging a company tax return and R&D tax incentive schedule at the end of your income year
    • must keep adequate records to demonstrate to AusIndustry, Innovation Australia and to us that you carried out the eligible R&D activities and that you did incur eligible R&D expenditure on those activities
    • must consider any special transitional rules that apply for situations that extend over income years where the R&D tax concession provisions and the R&D tax incentive provisions apply.

    See also:

      Last modified: 16 Jun 2021QC 26121