If you want to include these overseas costs as part of your FY19 R&D Tax Incentive claim, you will need to apply for a Certificate of Overseas Finding from the Industry Research and Development Board prior to the end of your financial year – that is, before 30 June 2019.
Activities undertaken overseas are generally not eligible for the R&D Tax Incentive unless a Certificate of Overseas Finding has been obtained. The application requires you to articulate why the activities had to be conducted overseas as compared to Australia, and you must meet one of four conditions:
The other main conditions of this application include evidencing:
Contact us today to ensure you do not miss out on the opportunity to include relevant overseas costs as part of your R&D Tax Incentive claim and get up to 43.5% (for SMEs) as a cash refund.
Contact our R&D tax experts for a free assessment and to find out how we may assist you with overseas costs.