New R&D Tax Incentive portal to be one-stop-shop for businesses

Australian businesses can now access a new portal for the federal government’s R&D Tax Incentive, which will provide a one-stop-shop for managing companies’ registrations and applications online. 

The portal has been in the works for a number of months, and is now available to businesses to begin drafting applications. 

Businesses applying for the RDTI will be able to do so via the portal from July 5, 2021, coinciding with a number of other changes to the incentive, with the portal to eventually replace the existing application process. 

However, if a business’ submission deadline is before that time, the application must be submitted using the current registration form. 

Once the transition to the new portal system is complete, businesses will no longer be able to apply for the tax incentive via the existing PDF Smartform. 

According to an update on the Australian Taxation Office’s website this week, the new portal will feature an updated RDTI application form that will make it easier for businesses to understand the eligibility criteria for the tax incentive. 

The portal will essentially form a secure online space where business owners or their representatives can manage all their interactions with the RDTI program. 

To access the portal, business owners will need to make sure they have a personal MyGovID and link that identification number to their business via the tax office’s Relationship Authorisation Manager (RAM) system. The same system can then be used to authorise other individuals to collaborate on the same application or act on behalf of a business, while other businesses, such as tax agencies, can be given access via the RDTI portal. 

The ATO said businesses will also eventually be able to use the portal to apply for and manage Advance and Overseas Finding applications, and request to withdraw or vary RDTI applications. 

Businesses will also be able to use the portal to check the status of their applications and even apply for time extensions. 

The portal will also feature support resources, including videos that explain how to access and complete applications for the tax incentive, which has been notoriously difficult to navigate. 

To access the new R&D Tax Incentive portal, click here. 

Sign up to SmartCompany Plus to access a full resource guide on applying for the R&D Tax Incentive.