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How Can I Get An Advanced Ruling On R&D?

An Advance Finding is a finding by the Board, under section 28A of the Industry Research and Development Act 1986, about whether an activity meets the requirements in the Income Tax Assessment Act 1997 to be either a core R&D activity or a supporting R&D activity. An Advance Finding can be sought in relation to:

  • activities conducted in the current income year, whether completed or commenced in that year; and
  • proposed activities to be conducted in the subsequent two income years.

Only an eligible R&D Entity can apply for an Advance Finding or Overseas Finding. You can visit the ATO website to see if you are eligible.

For more information about the Advance Finding and how to apply, please visit here.

Before you start your application, you should make sure that all your records are well managed. You will need to align your R&D Processes with the legislation to include the required documentation, you might like to refer to our ebook. From our 6-Step R&D Tax Incentive Process Optimisation eBook you will learn:

  • How to optimise your R&D Processes to keep accurate and complete records
  • Ensure that all your records are captured in the R&D process steps right when they are performed
  • Ensure that no extra work is added beyond the typical project tasks that would need to perform to achieve their goals.

Download now!

We also have a self-audit option for you to know how well you are keeping records and how much you are missing out on. By doing a Self-Audit questionnaire, after the completion, you will receive a personal report written by our consultants. 

If you are not sure what help you should get, book a 10-minute consultation to discuss your specific situation.

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