R&D Schedule

A company tax return which includes R&DTI must include an R&D Schedule. This has the breakdown of the R&D eligible expenditure, but only at a very basic level. It includes disclosures of grant recoupment and feedstock adjustment as well as payments to associates, and (if applicable) the aggregated turnover calculation.

We will prepare this schedule for you and provide it to you and to your tax agent (if you have given us their details). When the IR number is received, then the tax agent adds it to the schedule and includes the schedule in the company tax return.

There are a number of boxes that need to be completed within the return to incorporate the R&DTI. There are basic instructions on the schedule itself, and on the ATO site, but if your tax agent is unfamiliar with that process, then we recommend confirming your tax return with us before submission.

Once the return has been submitted, then if a tax refund is due the ATO will contact you within 30 days to either request clarification of the content of the return, or to pay the refund.

If the ATO request further information, then you will typically be expected to reply within 28 days, and the ATO expects to resolve the queries in 60 days (of their time – in addition to the initial 30 days, and any time taken by the company in preparing replies).