How do I add a disclosure for research and development (R&D) income
Sometimes we need to explain why its not accounted for
You can copy and paste this into a text block:
Each year the Consolidated Group / Company applies for and receives research and development incentive payments from the Australian Taxation Office under the R&D tax incentive program. The Consolidated Group / Company elects to recognise the income as a debtor during
the financial year of the actual claim. The recognised amount is determined by the claim outcome and cash received as determined by the Australian Taxation Office. As at the date of this report, the Consolidated Group / Company has not received the claim outcome or received any cash and therefore the debtor has not been recognised for the financial year.