Your business recordsExternal Link must be sufficient to verify the:
- amount of the expenditure incurred on R&D activities
- nature of the R&D activities
- relationship of the expenditure to the activities.
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 used reasonable methods to differentiate between your expenditure on R&D activities and your expenditure on non-R&D activities.
You will need to retain documents such as reports detailing:
- the R&D activities you carried out
- who conducted the R&D activities
- the time your staff spent on the R&D activities.
Generally, you must keep records for a minimum of 5 years. We may impose a penalty if you don't keep proper records.
You can find more information about keeping records to substantiate registered R&D activities, on the Department of Industry, Innovation and Science websiteExternal Link.