Australia: Changes to the R&D Tax Incentive Portal
Moving from a Smart form PDF lodgement system, Ausindustry has announced a number of key changes along with the launch of a customer portal to improve the scalability of service delivery and reduce wait times. Following the launch of the portal on 5 July 2021, the government will cease accepting PDF smart form applications. With a variety of reforms being made to the incentive, companies who are seeking to lodge their 2021 financial year applications should pay attention to what’s changed. Read below to know what’s new.Portal Information
The portal will be migrating a large volume of existing customer and system data between 1 July and 4 July 2021, with the portal going live on 5 July 2021. While applicants won’t be able to submit applications until 5 July 2021, users can still begin drafting their forms to claim the R&D tax incentive in a timely fashion. The portal will include:- an online space for you, and your authorised representatives, to manage your company’s interactions with the R&D tax incentive program
- an updated application form – making it clearer for you to understand the eligibility criteria and how to address these in your application
- improved security through myGovID digital identity services that is linked to your company’s ABN using Relationship Authorisation Manager (RAM)
What Do You Need To Do To Access The Portal?
- Individual directors looking to receive a tax incentive must use a personal MyGovID account
- Linking of this account to the ATO’s Relationship Authorisation Management (RAM) system
- The linking of MyGovIDs and registry of any collaborators or representatives acting on the behalf of the company in the RAM
- A link being established between a business’ nominated tax agent and the R&D entity prior to the drafting of the R&D tax incentive form can be done within the portal once the Portal has been established