Step 1 - Check that you meet the initial eligibility requirements
There are four questions you must answer in order to work out if you meet the initial eligibility requirements and therefore qualify for an R&D tax incentive tax offset.
Before claiming the R&D tax offset you must ensure you can answer 'yes' to all of the following questions:
Question 1: Are you an eligible R&D entity?
Only R&D entities (eligible entities) can claim a research and development (R&D) tax offset.
Question 2: Have you carried out eligible activities?
You can only claim an R&D tax offset if you have carried out eligible R&D activities in an income year.
Question 3: Have you registered your activities?
You must register with AusIndustry before you lodge your claim.
Question 4: Do your notional deductions qualify?
You need to work out whether your eligible notional R&D deductions are more than or less than $20,000.
If you can answer yes to all of these questions, then steps 2, 3 and 4 will help you work out which offset you can claim.
If you cannot answer yes to all of these questions, you cannot claim the R&D tax offset.
Before you can claim the R&D tax incentive, you must first satisfy four initial requirements. You must be sure that you: are an eligible R&D entity, carry out eligible R&D activities, have registered with AusIndustry and have incurred expenditure that qualifies as notional deductions.