AusIndustry being proactive about R & D for Software Development
AusIndustry have been concerned about software development for some time and have undertaken comprehensive consultation.
AusIndustry (Federal Department of Industry, Innovation and Science) administers the technical part of the R & D Tax Incentive which provides increased tax incentives to companies to carry out research and development. They have been concerned about software development for some time and have undertaken comprehensive consultation ahead of developing an education program to ensure only experimental activities that meet the technical definition of R & D for the Incentive purposes are claimed.
The department has recently issued a Guide to Software Activities and the R & D Tax Incentive and a Guide to Common Errors (focussing on software).
Mazars assists companies to register for and claim the R & D Tax Incentive.
If you would like a copy of the guides, or wish to discuss how the R & D Tax Incentive might benefit your business, please contact your usual Mazars advisor, or the Mazars tax partners – Jamie Towers on +61 7 3218 3900 or Gabrielle Cleary (Sydney) +61 2 9922 1166
Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.