The research and development (R&D) loss tax credit gives innovative companies access to their tax losses sooner so they have cash on hand to help grow their business when they need it most.
Eligible companies can cash out up to $392,000 of R&D loss tax credits for the 2018-2019 tax year.
You can apply for the R&D loss tax credit for the 2018-2019 tax year from 1 April 2019.
An important reminder before you apply
You must submit your R&D application and file your Income tax return: Companies (IR4) on or before your income tax filing due date. Late applications can't be considered.
Follow these simple steps to check your eligibility and apply to 'cash out' your R&D losses for the 2018-2019 tax year. To receive this credit, you must complete all of these steps before your income tax filing due date.
Use our Research & development (R&D) loss tax credit eligibility tool to work out if your company can cash out R&D tax losses.
Complete a R&D loss tax credit registration form- this lets us confirm if your company meets eligibility requirements.
If you have all the information you need, you can file your IR4 for the 2018-2019 tax year before the following due dates:
This helps work out the R&D losses your company can cash out.
Once you've logged in to myIR go to the 'More' button, then select 'Customer and account access'. This is where you'll find 'Apply for an R&D tax credit'.