R&D TAX INCENTIVE DOCUMENTATION AND EVIDENCE
PREPARED FOR YOU - For peace of mind
After wading through ATO and AusIndustry websites and finding that it is all very confusing. The next step is to talk to us. We have 15 years of R&D Tax Documentation experience.
Information for the Tax Claim and Detailed Evidence
We prepare all the information needed for a Tax claim. We can support you whether you have the full evidence or not, whether you are a first-timer or a seasoned claimer, we can ensure you are as prepared as possible. We know what the right Evidence looks like. We use our proven templates to quickly prepare all the evidence for you.
R&D TAX INCENTIVE DOCUMENTATION AND EVIDENCE
PREPARED FOR YOU FOR PEACE OF MIND
OPTIONS:
Option 1 - R&D Tax Claim form Information
Option 2 - R&D Documentation and evidence
Option 3 - Audit Preparation & Assistance
R&D TAX INCENTIVE DOCUMENTATION AND EVIDENCE
PREPARED FOR YOU FOR PEACE OF MIND
OPTIONS:
Option 1 - R&D Tax Claim form Information
Option 2 - R&D Documentation and evidence
Option 3 - Audit Preparation & Assistance
R&D TAX INCENTIVE MADE EASY
We prepare Documentation and evidence for you - Painlessly
We also provide Audit Preparation & Assistance options - Get ready
R&D TAX INCENTIVE DOCUMENTATION AND EVIDENCE
PREPARED FOR YOU FOR PEACE OF MIND
OPTIONS:
Option 1 - R&D Tax Claim form Information
Option 2 - R&D Documentation and evidence
Option 3 - Audit Preparation & Assistance
R&D TAX CLAIM HELP
R&D Tax Consultants – Focus on assistance with the R&D claim process
Accountants – Focus on preparing the expenses records for the claim
R&D DOCUMENTS HELP
You need more detail than just what is needed for the claim. We help you with the R&D detail you need, where others can’t
We make it easy to comply using our templates. We can show you how or we can prepare the documents for you
Did you know that the information required to submit an R&D Tax Claim is only a portion of the information required as evidence during an Audit?
You need to have a range of evidence written and collected at the time to explain both your Research and your Development activities.
It is not that hard with the right help and will pay off as you will maximise the benefits.
It is really important to keep the required evidence as you go contact us to help how.
R&D Tax Incentive Documentation And Evidence Options:
R&D TAX CLAIM FORM INFORMATION
We prepare all the information needed for a Tax claim. We can support you whether you have the full evidence or not, whether you are a first-timer or a seasoned claimer, we can ensure you are as prepared as possible.
R&D DOCUMENTATION & EVIDENCE
We prepare the evidence you need to support your claim. We can help with past years and do it for you going forward. We delve into your R&D and document it, so you can get on with innovating.
AUDIT PREPARATION & ASSISTANCE
If you have been flagged for an audit you need to be sure you are ready. We can probe your existing records and prepare documentation that the ATO and AusIndustry require.
R&D TAX INCENTIVE DOCUMENTATION AND EVIDENCE OPTIONS:
Option 1 - R&D Tax Claim form Information
We prepare all the information needed for a Tax claim. We can support you whether you have the full evidence or not, whether you are a first timer or seasoned claimer, we can ensure you are as prepared as possible.
Option 2 - R&D Documentation and evidence
We prepare the evidence you need to support your claim. We can help with past years and do it for you going-forward. We delve into your R&D and document it, so you can get on with innovating
Option 3 - Audit Preparation & Assistance
If you have been flagged for an audit you need to be sure you are ready. We can probe your existing records and prepare documentation that the ATO and AusIndustry require.
How do we do it?
We Get Right Into Your R&D Projects
→ We will work with your team to classify your core and supporting R&D activities correctly.
→ We will align the new knowledge, hypothesis and experiment regime to the Government’s detailed requirements.
Get To Know Them
→ We will probe for hidden evidence in emails, lab notebooks, minutes, reports, and word and excel documents.
Write the Documentation For You
→ We will write the documentation using our Templates Pack to construct them with as many details as possible.
→ We prefer to help you throughout the year to ensure the records reflect the R&D Project progress at each stage.
Your Documentation Will be Audit Ready
→ In the event you want to prepare documents for past R&D, although these will not be contemporaneous (written when the R&D was conducted), they will be structured so that AusIndustry can understand them and they will assist with the remainder of the review process.
DOING DOCUMENTATION RIGHT
We write the documentation for you to make sure it is right
Softlogic Solutions are R&D Tax Incentive implementation specialists.
We can write the documentation for you so that you know it has all the information needed by the R&D Tax Incentive and is easily audited by AusIndustry.
Will will start by looking at the following:
- existing R&D Documentation Structure
- locating Product Strategy Documentation
- clarifying your R&D Process Framework
- review of your Work Management Tools
- assessment of your Work Breakdown Structure and Time Tracking
- brainstorming and workshopping to identify potential sources of additional information
- verification of your R&D Document Repository
- review of your Apportionment of expense
We will write your documents to the letter of the legislation, ensuring you have in place:
1. Product strategy with project roadmap and new knowledge assessed
2. R&D project documentation with project hypothesis explained
♦ R&D project eligibility proof for core R&D activity documentation
♦ R&D project timelines, plans and budgets have been monitored.
3. R&D work records that track time and materials as core and supporting
4. Experiment plans to prove hypothesis documented*
5. Experiments conducted and evidence recorded with the results evaluated/reported*
6. Minutes of meetings to formally evaluate results, correct, and iterate on the hypothesis
7. Expense tracking down to the individual Core and Support R&D Activities for each project.
The areas marked with an asterisk* need to use scientific language, and we will provide you with the correct wording to ensure you pass the audit.
AUDITS AND RFI LETTERS
We can make sure you are prepared for an up coming audit
If your claim is flagged for checking, you will receive an RFI and you are given 30 days to produce the records as evidence of your R&D claim.
Once this stage is complete you may be assessed as “At-Risk” and informed that you will be reviewed within 12 months and should address the deficiencies they have identified.
If you have been notified of an Audit on one of your R&D Projects? If so you need to get ready for the Audit quickly.
The government’s recent changes that make it mandatory to have the proper documents in place before completing your application form, means that you are expected to be ready.
When conducting their desk check of your claim they will be able to obtain pictures of your ability to substantiate it but will want to ask you questions.
A review and audit of your documentation may be triggered by:
- Routine desk-checking of applications
- Missing or incomplete information in your application form
- Unclear information that does not match end to end between questions
Have you received a Request for Information (RFI) with a list of complex questions?
You have 30 days to respond with answers (on average 100-150 questions).
Has your R&D Tax Incentive application been flagged as At-risk?
If so, in most cases, you will be given 12 months to review and fix your records before AusIndustry conduct their complete audit program on your R&D program of work.
It can be difficult to understand the legislation and apply it to work you have already completed.
Failing the audit may result in having to repay the grant for both the current year and previous year claimed, plus a fine of up to 1.5 times your claim amount.
What Our Customers Have to Say
George has systematized his successful process for maintaining compliance records into a framework that was easy for us to adapt and apply to our way of working.
With plenty of high profile businesses being audited and found coming up short due to record keeping, we are now sleeping easy that we will not be one of them.
Audit Preparation Service Options
- Rapid Response RFI Review Service
- Comprehensive Audit Preparation
If you have received a Request for Information, you will only be allowed 30 days to gather and provide the appropriate information.
We offer a rapid response review and remediation service to:
- Perform an evidence probe workshop.
- Review the documentation for compliance.
- Provide templates to ensure language and structure are correct.
- Review your application of core and support R&D and the supporting hypothesis and experiments outlined to ensure they will pass the initial RFI.
- Work with you to rapidly complete the document for the R&D Project being reviewed by AusIndustry or the ATO.
- Assist with answering the questions from AusIndustry or the ATO.
- Review the results with your Tax Consultant to ensure consistency with the R&D Tax Claim for the year being reviewed.
Key objective:
- Ensure you pass the RFI and avoid triggering a full-blown audit.
$P.O.A.
If you have been given an At-Risk rating (or you want to be prepared), you will need to take action to update and ensure your records reflect the requirements of the legislation.
We offer assistance to make sure this is done quickly, correctly and comprehensively to ensure you avoid a failed audit review.
We will provide:
- Training for your staff
- Templates to apply to all of your documents in arrears and in the future
- Audit and review of your current program with a detailed checklist of work required to make your applications compliant
- Deep dive into core and supporting R&D work definitions
- Review of all realigned work.
(Includes Consistency Training Workshop Package)
Key objective:
- Address all items flagged, plus extensive review to ensure no further issues will be flagged during the audit, ensuring you pass the audit and avoid fines.
$P.O.A.
Get in touch to find out more !
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Make the R&D Tax Incentive easier
Contact us to discuss your personalized strategy to prepare your R&D for the new financial year.
Get started before July
(03) 9857 7023