There is currently little guidance provided to the mining industry on Research and Development (R&D) and its interactions with the tax system. Propose that the ATO provide consistent levels of R&D guidance/advice across all industries in order to provide clarity and certainty.
The Board is particularly interested in understanding what specific types of guidance would be of use.
01/12/16
The Board understands that the ATO and AusIndsutry have been working on a number of co-branded products. Some of these products provide specific guidance for specific industries. The release dates of these are still to be finalised but is likely to be before the end of the year. We will provide relevant links once finalised.
In the meantime, the latest guidance from the ATO and Business.gov.au can be found at the below links:
ATO - https://www.ato.gov.au/Business/Research-and-development-tax-incentive/
Business.gov.au - https://www.business.gov.au/assistance/research-and-development-tax-incentive
Support for businesses in Australia | business.gov.auConnecting you to information, grants, registrations and support to help your business succeed in Australia.
https://www.ato.gov.au/Business/Research-and-development-tax-incentive
Research and development tax incentiveIf your company is performing research and development (R&D) activities, you could be eligible for a tax offset. Find out about the tax incentive, whether you're eligible, and how to register.
https://www.business.gov.au/assistance/research-and-development-tax-incentive
Research and Development Tax Incentive | business.gov.auThe R&DTI gives a tax offset for eligible R&D activities and may reduce your income tax bill.