Hi
Has anyone added in calculations for the Australian R&D Tax Incentive into the corporate tax module? Would be great to get some pointers.
I was thinking of building something similar to how the GST module works with a % of expense eligible for the R&D claim and then paid out once per year.
Thanks
Cheyne
Hi Cheyne,
This is a great suggestion and amazingly, given that Modano receives the Australian R&D Tax Incentive, we don't currently have a module which does this.
The approach you've suggested is exactly what we'd do too - i.e. refactoring a GST module given that it already contains the links in and % applicability infrastructure.
I'd also like to understand more about how this module would interact with the corporate taxation module, as we receive our incentive via reduced corporate taxation rather than an independent payment.
Keen to hear any specific details you believe are relevant to this model, as it will also need to allow for different treatments depending on whether the entity is making a taxable profit.
Please keep us posted if you start building this, I'd be happy to tap one of our team in if you start the process via this thread. Otherwise we'd need to dig a little deeper into the specifics of the accounting and tax treatment of the incentive before diving in...
M.