What entities are eligible for the R&D Tax Incentive?

The Research and Development Tax Incentive (R&D Incentive) encourages companies to engage in research and development which benefits Australia by providing a tax offset calculated against eligible expenditure (Notional Deductions), where the expenditure relates to eligible research and development activities (R&D Activities).  The R&D Incentive is described in division 355 of the Income Tax Assessment Act 1997 (Cth) (ITAA97).  The R&D Incentive was introduced by the Tax Laws Amendment (Research and Development) Act 2011 (Cth) (which received Royal Assent on the 8 September 2011) which added division 355 to the Income Tax Assessment Act 1997 (Cth) (ITAA97).

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