Deadline looming for FY2025 R&D Tax Incentive claims
In the February edition we shared details of the new opportunity around tax offsets for some levy-funded projects, following Hort Innovation’s registration as a Research Service Provider for that financial year.
In practical terms, this means that eligible olive businesses can claim a percentage of their olive levy payment made during the 2024-25 financial year as a tax offset under the Australian Government’s R&D Tax Incentive program.
If you missed the previous article, here’s a link so you can get up to speed: https://australianolives.com.au/some-levy-funded-rd-eligible-for-fy2025-rd-tax-incentive/
Making a claim
In short, claims are managed through the AusIndustry registration process and the ATO R&D schedule in your tax return.
To prepare a claim, you need the required Project Descriptions and eligible R&D tax rates, which are calculated by Hort Innovation based on the eligible activity for each year. Here are links to the industry-specific industry R&D tax incentive resources prepared by Hort Innovation to assist with your claim:
- R&D Tax Incentive info guide for levy payers – provides general information around eligibility and key dates, helping you understand the basic requirements and timelines for the R&D tax incentive.
- RSP Project Descriptions for FY2024/25 – outlines the R&D activities to assist levy payers with the necessary information needed for their application.
- R&D Tax Incentive Rates for FY2024/25 – the eligible R&D expenditure percentages by levy type for the financial year.
Deadline of 30 April
This is a great opportunity, which has previously not been available for industry levy payments, so it’s well worth exploring whether you’re eligible. Claims must be made by 30 April, however, so the time to act is NOW.
- Seek independent advice from qualified financial or professional advisors to assess your individual circumstances, and to provide application support;
- Email [email protected] if you have any questions.
- Make sure your application is submitted by 30 April 2026.
This communication and the supporting documents do not constitute financial, taxation or legal advice. Hort Innovation does not provide application services. Obtaining independent advice from qualified financial or professional advisors is strongly recommended.