Are you ‘Compliance Ready’?

Are you compliance ready for the R&D tax incentive?

AusIndustry has a number of compliance requirements for applicants to the R&D tax incentive program. Businesses can face audits by AusIndustry up to four years after registration for a past income year. It is a requirement that registered businesses maintain adequate records to substantiate their applications and claims.

Good record keeping is essential for linking expenditures to R&D and also to demonstrate the undertaking of  approved projects and activities.

SAS can assist you in:

  • Advice on record keeping systems and their compliance with AusIndustry and ATO requirements
  • Conducting a review or audit of your record keeping systems
  • Articulating your Research and Development plan. Apart from assisting in AusIndustry compliance, a clear research plan will  help inform your business strategy and provide greater appeal for further business funding
  • Audits or reviews conducted by AusIndustry or the ATO

Contact us for a discussion about how we can help.