If your business conducted research and development (R&D) activities, you may be eligible to claim a tax offset under the R&D tax incentive.
If you’re eligible, you can claim the R&D tax incentive by completing the R&D tax incentive schedule and lodging it with your company tax return.
See the R&D schedule instructions for information on how to complete the schedule. You can also use the R&D tax incentive calculator which will help you work out the amounts you’re eligible to claim.
If you plan to continue conducting R&D activities this income year, you need to register the activities, even if you’ve registered previously.
Remember, the team at Paris Financial is here to help. Contact us today!
Source: ATO Newsroom
