(relevant to Australian owned and foreign owned R&D)
Item 1
Entitlement to government grants and recoupments for the financial year that relate to activities and projects claimed above
At P item 1 write the total amount of relevant Australian government recoupments of, or grants received in respect of, expenditure on R&D for which the company is claiming the R&D tax concession (for Australian owned or foreign owned R&D) in the 2011 year of income. Exclude amounts received under CRC programs.
The clawback provisions (section 73C of the ITAA 1936) may operate on these amounts to reduce your entitlement to the additional 25% concession in respect of relevant expenditure on Australian owned R&D. For instructions on the application of the clawback provisions, see Guide to the R&D tax concession.
End of attentionExpenditure to which clawback applies should be shown in the 'Claimable at 100%' column in part A of the Research and development tax concession schedule 2011 for Australian owned R&D activities (column 2). Include any income from grants in the Company tax return 2011 at Income, Q Assessable government industry payments item 6 Calculation of total profit or loss.
Item 2
Grants and recoupments attributable to incremental expenditure on Australian owned R&D
At A item 2 show the total amount of government grants and recoupments attributable to incremental expenditure on Australian owned R&D.
Item 3
Grants and recoupments attributable to expenditure on foreign owned R&D
At F item 3 show the total amount of government grants and recoupments attributable to expenditure on foreign owned R&D.
The amounts included at A item 2 and F item 3 are used to calculate the relevant expenditure to be used in determining entitlement to the Australian owned R&D - extra incremental 50% deduction and the Foreign owned R&D - extra incremental 75% deduction on the Company tax return 2011. If you are not claiming any of these deductions, you do not need to complete A item 2 or F item 3. For more information about the effect of grants on the calculation of your entitlement to either of these deductions, see Guide to the R&D tax concession.
End of attention