R&D Substantiation

What documents are required for the R&D incentive claim?

If you’re undergoing activities that may be eligible for the R&D tax incentive, it’s important to ensure you keep a record of all related items that will support your claim. Speak to an R&D specialist before you begin your project, so you know what documents you’ll need when it comes to lodging your claim.
As a guide, you need to document that the company met all aspects of the legislative definition of R&D, including:

What documentation is suitable? There are various ways to document your activity, and the more documentation available, the better to support your claim.

Here are some examples of useful substantiating documentation:
  • Reports outlining trials undertaken
  • Any technical overviews
  • Any risk analysis highlighting technical risk and problems that had to be overcome
  • Any general documentation you have outlining the process
  • Reports from external consultants detailing activities undertaken
  • Contractor proposals and scope of work documents
  • Board meeting minutes approving the project or that discuss the project
  • Emails between project team members
  • Informal notes describing activities or results
  • Photos or videos of the project

If you’re about to engage in activities that may be eligible for the R&D incentive, contact an R&D specialist before you get started. Our specialists here at Carbon will help you implement a best practice document management system to make keeping records easy and effortless. You’ll thank yourself when it comes to lodging the claim and it will put you in the best possible position of receiving the benefit of the incentive.

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To find out more about the R&D tax incentive, simply fill in the form below and one of our R&D specialists will be in touch shortly.

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