Item 5 is a component of paragraph (c) of the definition of research and development expenditure in subsection 73B(1) of ITAA 1936. You will need to show any expenditure incurred in the hire or leasing of an item of plant that is directly in respect of R&D activities carried on by or on behalf of the company.
Adjust the amount of plant leasing expenditure claimed in accordance with the prepayment provisions (sections 82KZL to 82KZMF of ITAA 1936).
At R enter the total amount of plant leasing expenditure incurred (the base amount).
At S enter any amount of the plant leasing expenditure amount claimable at 100%.
At T enter any amount of the plant leasing expenditure amount claimable at 125%.
At U enter any amount of the plant leasing expenditure claimable at 150%.
The total of the amounts at S, T and U must equal the base amount otherwise, a warning message 'Your claim does not balance' will display in the Excel spreadsheet.
More information
For more information, see:
- subsection 73B(1) of ITAA 1936
- Taxation Ruling IT 2442
- Guide to the R&D tax concession