For essential information on the feedstock adjustments click this link to the ATO website.
To complete the Feedstock labels, click either of the labels at Part A, item 5 and enter the relevant information in the worksheet provided. To add rows, click [Ctrl+Insert].
MYOB Tax will calculate all the relevant values and default those values to the relevant labels.
|Feedstock input expenditure||Feedstock input expenditure refers to the expenditure incurred in one or more income years in acquiring or producing goods, or materials transformed or processed during R&D activities in producing one or more tangible products.|
|Feedstock outputs||Feedstock outputs refers to the tangible products produced as a result of the R&D activities (through the transformation or processing of feedstock inputs).|
Where the feedstock output is immediately sold or applied, the feedstock revenue will be its market value at that point.
Where further expenditures are incurred on the feedstock output between the R&D activity and the point of sale, then the feedstock revenue will be a proportion of the value of the marketable product that is sold. In these circumstances the feedstock revenue is calculated as follows:
(Market value of the marketable product X Cost of feedstock output) divided by (Cost of producing marketable product)
Click [Alt+S] on the R&D tax incentive schedule at either:
Part A at label I or label J Feedstock input expenditure, or
Item 1 Feedstock revenue total or
Item 2 Expenditure on feedstock inputs attributable to feedstock outputs
Item 3 Feedstock adjustments.
Amounts entered into this worksheet integrate back to these labels.
20-165 Research and development expenditure - activities
20-185 Associates, partnerships and CRCs