Obtaining the Notice of Registration

This is Part 3 of the step-by-step guide for companies seeking information on how to claim the R&D Tax Incentive. You can read the full guide about How to Apply R&D Tax Incentive here. In this article, you will learn about:

What is the R&D Notice of Registration
Meaning of it for your R&D Tax Incentive Application
Timeframe from R&DTI application to the Notice of Registration
Why hiring a R&DTI specialist

Step Three: Notice of registration

The Notice of Registration is a unique number your business receives after making the R&D Tax Incentive application with AusIndustry. It looks like this: IR2400001, where the IR number is based on the financial year (24 if it’s FY24), followed by a sequence of numbers that represent the order you’ve lodged in the queue for that year. If you’re the first to apply in that year, then your number will be 00001.

The Notice of Registration means that your business activities have been registered with AusIndustry. It doesn’t mean that your application has been approved. But it’s an important outcome, given this number means your business has now reserved the right to claim the R&DTI for that Financial Year. Some companies are not able to reach this step due to errors on the application form that disqualify them.

The timeframe between Step Two and Step Three is usually 10 business days. The extensive and solid experience of Bridgepoint Group in claiming R&DTI has given us the ability to manage Steps Two, Three, and Four almost simultaneously, providing our clients with a faster turnaround time from the qualification step to lodging the Tax Return. It only depends on our clients’ capabilities to provide us with the information we need.

Advantages of Hiring an R&D Tax Incentive Professional

The process of claiming the R&DTI is time-consuming, and at times, confusing for those who are not familiar with the process. An experienced R&D Tax Incentive specialist like BridgePoint Group can facilitate the preparation and lodgement of your claim, liaising with both AusIndustry and the ATO. The benefits of hiring an R&DTI expert encompass the following:

Helping assess your eligibility and determining the feasibility of proceeding.
Conducting a comprehensive financial analysis to capture all relevant activities and expenses.
Maximising the chances of a successful claim.
Legitimately maximising your claim.
Reducing timing, costs and resources of making the application.

Learn more about BridgePoint Group’s R&D Tax Incentive service.

Once you obtain the Notice of Registration, then you’re ready to Step Four: R&D Schedule

If you still have questions, we answer some of the most common enquires about R&D Tax Incentive here.

If you would like to engage an R&D Tax Incentive specialist to determine whether or not your company qualifies for the R&DTI then please reach out to Alan Baghdasarayan, Government Grants & Incentives Director at BridgePoint Group who will provide a free 30-minute consultation.