What's the Point

2017-11-21 13:03:36

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If you don't have the correct documents you will not get the points, and that could cost you more that a little embarrassment.

Having an ATO auditor across the desk is probably not your idea of fun, so lets help you get your files in order, starting with the R&D ratio.

The law says the % is calculated by taking the;  company’s total expenses for the previous income year, against the expenditure that the company can notionally deduct for that income year under section 355‑205 (about R&D expenditure). So what does that mean?

355-205 refers to R&D activities undertaken by a registered entity (i.e. one that registered before the cut-off). For more on R&D activities see these links.

Putting the two together you end up with a company tax return that includes the following items;



 

 
 

Published By: Tom

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