Please answer all the questions first.
Is your company in tax loss for the current year (including tax losses carried forward from prior years)?
Is the sum of your current year and carry forward tax losses greater than your current year R&D Expenditure?
Please enter the amount & amount should be correct number.
Group Turnover of Company (including connected or affiliated entities)
Total Company Expenses
Eligible R&D Expenses within Total Company Expenses
Opening Balance of Tax Losses
Prima Facie Taxable Income (Pre R&D/Application of Tax Losses)
Add R&D Expenditure Forfeited as deduction/Claimed as Offset
Less Tax Losses Applied to Current Year Income
Revised Taxable Income
Tax Payable on Above 30%
Credit for R&D Tax Offset
Net Tax Payable/(R&D Offset Refundable)
to Email this info to your email.
Disclaimer:The Australian Tax System is complex and this calculator only yields an estimate of potential benefit. This is intended as a quick guide and must not be used as a calculator for use in the preparation of an R&D tax schedule or calculation of R&D tax beneift. Further, it must not be used as a substitiute for professional advice.
Assumptions:Group Turnover of company is equal to assessable income of companyTotal Company expenses are fully taxableNo other deductions or entitlements consideredNo other tax liabilities considered