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Eligible to 'cash out' your research and development losses?

Research and development loss tax credit

Eligible to 'cash out' your research and development losses?

Research and development loss tax credit

Eligible to 'cash out' your research and development losses?

The Research and Development (R&D) loss tax credit gives innovative companies access to their tax losses sooner so they have cash on hand to help grow their business when they need it most.

Eligible companies can cash out up to $308,000 of R&D loss tax credits for the 2017-2018 tax year.


Applications for the 2017-2018 tax year

You can apply for the R&D loss tax credit for the 2017-18 tax year from 23 April 2018.

An important reminder before you apply

You must submit your R&D application and file your Income tax return: Companies (IR4) on or before your income tax filing due date. Late applications can't be considered.

 

Video: Aeronavics R&D story

Flash video | 1:56 mins | Transcript

Find out if your business is eligible and apply

Follow these simple steps to check your eligibility and apply to 'cash out' your R&D losses for the 2017-2018 tax year. To receive this credit, you must complete all of these steps before your income tax filing due date.
 

  1. Work out if your company meets requirements using our online eligibility tool

Use our Research & development (R&D) loss tax credit eligibility tool to work out if your company can cash out R&D tax losses.

  1. Register your interest in applying to cash out your company's R&D losses

Complete a R&D loss tax credit registration form- this lets us confirm if your company meets eligibility requirements.

  1. Complete and file your IR4 companies income tax return for the relevant tax year

If you have all the information you need, you can file your IR4 for the 2017-2018 tax year before the following due dates:

  • 7 July 2018 if you don’t have a tax agent (for a 31 March balance date)
  • 31 March 2019 if you have a tax agent.

Find out more about filing business income tax returns

  1. Complete the R&D application form in myIR

This helps work out the R&D losses you company can cash out.

Once you've logged in to myIR go to the 'More' button, then select 'Customer and account access'. This is where you'll find 'Apply for an R&D tax credit'.

Find out more about the R&D loss tax credit