Ace Developers Pty Ltd is an Australian resident private company. It has an annual turnover of $28.5 million, and has registered for the R&D tax concession with the Department of Industry, Innovation and Science. During the 2019-20 income year, it incurred expenditure of$480?000eligible R&D activities. What amount of the R&D tax offset is the company able to claim?

Question

Quizplus · Accepted Answer

The R&D tax offset is calculated as 43.5% of eligible R&D expenditure. Therefore, the company is able to claim an R&D tax offset of $480,000 x 43.5% = $208,800.

Ace Developers Pty Ltd Is an Australian Resident Private Company