Am I an eligible R&D Tax Incentive entity?
An eligible entity must be either:
- incorporated under an Australian law
- incorporated under a foreign law but an Australian resident for income tax purposes
- incorporated under a foreign law and you are both:
- a resident of a country with which Australia has a double tax agreement that includes a definition of 'permanent establishment'; and
- carrying on business in Australia through a permanent establishment as defined in the double tax agreement
What’s more, an eligible applicant must essentially bear the risks and own the results of the research and development activities. And note that the research and development activities should be conducted for your business (rather than for another entity).