Are you eligible to claim?
Are you a company incorporated in Australia?
- Do you have a number of related entities in your group?
- Are you claiming under the right entity?
Are you conducting eligible R&D activities?
- Were you developing a new or improved product, system, device, process or service?
- Were the activities experimental where the outcome was unknown at the outset?
- Did you follow an experimental progression of work?
- Was there technical uncertainty or risk in the activities?
- Were you creating new knowledge?
- Did you encounter problems which required innovative problem solving approaches?
How have you documented your R&D activities?
Did you document what was unknown at the start of your activities?
Documents may include:
- Competitor analysis
- Review of current state of the industry
Did you set up a documentation or record keeping, including your technical hypothesis or objective when your activities commenced?
Documents may include:
- Business case
- R&D project plan/scope
- Product development meeting notes
- Emails with contractors/consultants
- Concept drawings
- Internal emails
Did you document your experimental process, test results, analysis, outcomes?
- Experimental data
- Trial plans
- Engineering drawings and revised drawings
- Emails describing the experiment or results
- Observations, photos, videos
- Discussions or meetings notes
- Test reports
- Consultant/contractor reports
Did you document your outcomes against your initial experimental aims?
How have you tracked your R&D expenditure?
- Did you set up a work order or project code?
- Did you develop templates for tracking project costs?
- Did you track personnel time and what activities they related to? (Timesheets, calendar entries)
- Have you separated out your R&D activities from your “business as usual” activities?
- Have you separated your ‘core’ from your ‘supporting’ R&D activities expenditure?
- Have you substantiated all direct costs? (Materials, travel, external testing)
- Did you sell the outcome of your R&D?
Key considerations to discuss with your R&D advisor prior to EOFY
- Did you engage any external contractors? The 'On Own Behalf' rules apply. Review your contracts for eligibility.
- Did you receive any government grants related to the R&D activities? Clawback adjustment may apply.
- If you're selling or have sold the outcome of your R&D activities (goods or materials), a Feedstock Adjustment may apply.
- Ensure any payments to Associates are properly incurred, and in the right entity prior to year end.
We work with companies to provide the tools to track your R&D activities and substantiate your R&D claims. For an obligation free assessment of your documentation and your company's compliance, contact us on:
Kate Mahady - email@example.com