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To claim the research and development loss tax credit, you must first be registered.

When you are registered, you can apply for the research and development loss tax credit.

For your application to be considered, you must apply on or before the due date for filing the company’s tax return (IR4). R&D loss tax credit applications must be submitted before or on the same day which the person files the relevant income tax return.

Late applications will not be accepted. We cannot accept late applications under Section 70C Tax Administration Act 1994.

COV 22/18 Variation in relation to s 70C of the Tax Administration Act 1994 to extend deadline for filing statements in relation to R & D loss tax credits

This variation provides extra time to file the statements required by section 70C of the Tax Administration Act 1994, in relation to R&D loss tax credits, when the statements were unable to be filed on-time due to COVID-19 response measures or as a consequence of COVID-19.

How much you can claim

The amount you can claim as a tax credit will be the lesser of the company's:

  • net loss for the year x 28%
  • total R&D expenditure for the tax year x 28%
  • total R&D labour expenditure for the year x 1.5 x 28%.

R&D loss tax credit allowable value per tax year is as follows:

Tax year Maximum allowable value
2015-2016 $140,000
2016-2017 $224,000
2017-2018 $308,000
2018-2019 $392,000
2019-2020 $476,000
2020-2021 onwards $560,000
Last updated: 28 Apr 2021
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