Research and development
In Australia, innovation, creativity and technical leadership are considered critical for delivering new sources of growth, maintaining high wage jobs and creating sustainable prosperity. Recognising that Research and Development (R&D) drives innovation, the Australian Government provides a R&D Tax Incentive Program to encourage and incentivise these activities.
To ensure your organisation receives the maximum benefit of this program, it’s essential to have an in-depth understanding of how the incentive works and your eligibility. Our expert advisors can assist you through all stages of your incentive claim and ensure you are rewarded for the R&D activities your company conducts. We help you identify and register eligible activities, quantify the related expenditure and assure that you are making valid and supportable claims.
The R&D Tax Incentive Program provides organisations with either:
- A 43.5% refundable tax offset for companies with aggregated turnover of less than $20 million per annum, under the provision that they are not controlled by income tax-exempt entities
- A 38.5% non-refundable tax offset for all other eligible companies
Our experienced taxation specialists can assist with:
- Identification of eligible R&D activities and expenditures
- Registration of R&D activities with AusIndustry
- Calculation of eligible R&D expenditure
- Corporate governance and maintenance of accurate records and documentation to support R&D claims
- Preparation for reviews by AusIndustry and the ATO
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