Research And Development Registration Reminder

If your business has operated as a company during the financial year ended 30th June 2011, has incurred R & D expenditure exceeding $20,000 and has not yet lodged its income tax return; then you have until the 30th April 2012 to register your R & D activity with AusIndustry.  This will allow you to claim the Accelerated Income Tax Deduction or, if your turnover was under $5 million, you can claim the Tax Rebate for R & D.

If you would like to have a discussion with us regarding R & D rules that apply to the year ended 30th June 2011, or for us to process your application with AusIndustry for registration of the R & D projects undertaken, please do not hesitate to contact us.

If you are undertaking R & D activities during the 2011/12 financial year, you have until the date of lodgement of the income tax return for the company, or until 30th April 2013, to register with AusIndustry for the new R & D Incentive Scheme which commenced on 1st July 2011. 

We would be happy to discuss any queries relative to R & D with you.