How these instructions will help you to complete the Research and development tax incentive schedule.
About the Research and development tax incentive schedule
These instructions will help you complete the Research and development tax incentive schedule 2022, which in turn will help you complete item 21 Research and development tax incentive in the Company tax return 2022 (NAT 0656). For more information about the R&D tax incentive, see Research and development tax incentive.
You can use our Research and development tax incentive calculator to help you complete the Research and development tax incentive schedule 2022. You can print a copy of the schedule when you have finished using the calculator. This schedule will be accepted for lodgment with an original tax return or an amendment request.
When we refer to 'you' in these instructions, we are referring to the company or the person responsible for completing the Research and development tax incentive schedule 2022 (NAT 73794). This publication is not a guide to income tax law. If you feel this publication does not fully cover your circumstances, get help from us or a registered tax adviser.
Changes to the Research and development tax incentive apply for income years commencing on or after 1 July 2021, therefore for early balancing entities with an early balancing substituted accounting period this will be the year that commences on or after 1 January 2022. If you are one of these entities, use the Research and development tax incentive instructions for early balancing substituted accounting period (SAP) entities 2022.
Abbreviations and unfamiliar terms
For an explanation of any terms used in these instructions that are unfamiliar to you, see Definitions and Abbreviations.
What's new?
Changes have been enacted to the Research and Development (R&D) tax incentive. These changes apply from the first income year commencing on or after 1 July 2021. The Research and Development tax incentive schedule 2022 applies those changes.
Who must complete a Research and development tax incentive schedule?
You must complete and lodge a Research and development incentive schedule 2022 if you make a claim at A item 21 Non-refundable R&D tax offset or U item 21 Refundable R&D tax offset in your Company tax return 2022 for an R&D tax offset under the R&D tax incentive, that is, Division 355 of the Income Tax Assessment Act 1997 (ITAA 1997).
If you have additional assessable income in relation to a clawback amount covered by Part B of this schedule, but are not claiming a tax offset under the R&D tax incentive in this year of income:
- You do not need to complete the Research and development tax incentive schedule 2022.
- You will still need to work out this amount and include it at W item 21 Clawback amounts – additional assessable income and at B item 7 Other assessable income in the Company tax return 2022 (see Part B for information about how you work out your clawback amount).
If you have a deductible balancing adjustment amount but are not claiming a tax offset under the R&D tax incentive in this year of income:
- You do not need to complete the Research and development incentive schedule 2022.
- You will still need to work out this amount and include it at X item 21 Balancing adjustments - catch up deduction and at X item 7 Other deductible expenses in the Company tax return 2022 (see Part B for information to work out your deductible balancing adjustment).
Continue to: Who can claim the R&D tax incentive?