Posted By: R&D SmartTax

R&D SmartTax is proud to announce a brand new Template Package along with 4 new templates to help manage all aspects of compliance for R&D Tax Claims.

Our existing Template Package was one of our most popular products and included the R&D Plan and R&D Calculations templates for the R&D Tax Concession and R&D Tax Offset programs.

The 4 new templates we have added to these two favourites are as follows:

1. R&D Trial Record

2. R&D Learnings Report

3. R&D Labour Record

4. R&D Substantiation Checklist

The R&D Trial Record helps to document results and learnings from experimental activities using plant assets and is particularly important if you wish to claim expenditure for experiments. Both AusIndustry and the ATO have been known to focus on this area of compliance with the outcome being a disallowed claim if adequate records do not exist.

The R&D Learnings Report goes beyond the realm of R&D to actually form an important learning document to help your company manage, save and use the results from its projects for maximum benefit. It is particularly useful if there are staff changes and your company doesn’t particularly wish to “reinvent the wheel” the next time the project comes about.

The R&D Labour Record is a popular tool that is used to record employee time on R&D projects in a timely and contemporaneous manner. Most companies use this on a weekly, fortnightly or monthly basis. Again, this is critical for the ATO to verify labour costs where no timesheets are used.

Finally, the R&D Substantiation Checklist contains a list of all supporting records required to back up your R&D tax claim, to give you an easy, single point of reference for your compliance records.

For those familiar with our R&D Calculations Template, this has also been updated to include a new section to help calculate company overheads. Company overheads are sometimes overlooked when adding up your R&D tax claim, but they can actually be a way to easily maximise your claim.

Our R&D Templates are all tried and tested and we are confident that companies using them will greatly improve their records for R&D tax compliance.

Click HERE to Access the Template Package and make sure your R&D tax compliance is up to date.

About R&DSmartTax

R&D SmartTax tools were born out of a desire to help the many smart small Australian companies access the R&D Tax Break benefits without the need for hours spent reading tax literature or expensive consultant fees. The R&D Eligibility Wizard is designed to be low cost, easy to use and available for all Australian industries.


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A. Blauensteiner
Australian Institute of Commercialisation

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