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The R&D Tax Incentive program encourages Australian companies to invest in research and development activities by offering a tax offset. The government hopes to stimulate economic growth and create jobs.
By participating in this program, eligible companies can reduce their taxable income and lower their tax bill. The R&D tax incentive is like a government ‘thank you’ for companies doing R&D. It reduces the amount of tax the company has to pay, like a discount.
Your business wants to develop new products or improve existing ones (R&D). Traditional R&D can be expensive, making it risky for innovation.
Reduce your R&D costs! The R&D Tax Incentive lets you claim a tax break for qualified R&D activities.
Simplify Your R&D Tax Claim:
No Competition, Just Rewards
Check if your R&D activities meet the guidelines.We can help
Submit your application with proof of qualifying R&D spending.
Receive a tax break that directly reduces your tax bill.
No competition! If you qualify, the tax break is yours for the taking (eligibility-based, not competitive).
Discover how much you can save with R&D tax incentive rates.
The exact rate depends on how much a company spends on R&D compared to their total spending.
But for smaller companies, it's their usual tax rate plus 8.5% for the first 2% of R&D spending, and then plus 16.5% for anything above that.
Smaller companies:
Refundable tax offset, up to 18.5% extra.
Larger companies:
Non-refundable tax offset, reduces tax payable.
How we can help you
Here's how we can help you 'level up' by using our grant services:
Grants provide additional resources to fuel your project's advancement, accelerating progress and potential impact.
Funding alleviates financial pressure, allowing you to pursue your goals with less reliance on personal resources.
Grants can enable you to explore new ideas, scale your existing project, and ultimately create a greater impact in your field.
By leveraging our expertise, you can achieve more with your projects and make a bigger difference!
The best part? We only charge success fees. Get in touch.
The R&D Tax Incentive program encourages Australian companies to invest in research and development activities by offering a tax offset. By participating in this program, eligible companies can reduce their taxable income and lower their tax bill.
The R&D tax incentive is like a government "thank you" for companies doing R&D. It reduces the amount of tax the company has to pay, like a discount.
Here's a simple explanation of how it works:
Who Can Benefit:
Companies that spend money on research and development activities can get a tax offset.
How to Apply:
Companies need to check if their R&D activities qualify.
What You Need:
Keep good records of your R&D spending and make sure you follow the rules to claim the tax benefit.
Streamline Your R&D Tax Claim:
From Eligibility to Offset
Receive tax offset!
Boost your bottom line with this government incentive for innovation.
Learn if your company qualifies and how to claim valuable tax benefits.
This guide provides a comprehensive overview for companies looking to benefit from the R&D Tax Incentive.
It includes: R&D Tax Incentive, Eligibility Criteria, Claimable Expenses and the Application Process.
Find out if your R&D activities meet the criteria for this attractive tax break.
Don't miss out! This guide simplifies the process of claiming your R&D tax offset, maximizing your return on innovation.
Ensure a smooth claim process. Learn best practices for documenting your R&D spending to meet government requirements.
Download our free Quickstart Guide with all the key considerations for the R&D Tax Incentive, or book a free consultation with us to see how your business can benefit.
When we talk about R&D, we need to know the difference between a whole R&D project and the smaller tasks within it, which we call R&D activities.
What counts as "eligible" activities are outlined in specific laws and fall into two categories:
Think of these as the heart of your innovation project. They directly generate new knowledge or create new/improved products, processes, or services.
Examples include:
These are activities that are essential for your core R&D activities to happen successfully. Your supporting R&D activities must directly relate to your core R&D activities. They don't directly create new knowledge but they keep the research process running smoothly.
Examples include:
Unlocking Genuine Innovation:
What You Need to Know
Why it Matters:
The government wants to encourage genuine innovation. The distinction between core and supporting activities helps ensure the tax incentive money is truly invested in making new discoveries and advancements.
The Rulebook:
The Income Tax Assessment Act of 1997 is the official law that sets the boundaries for the R&D tax incentive. In it, it clearly defines what kinds of activities are considered eligible for support.
Need to know if your R&D qualifies?:
There are some activities that don't count, like internal software projects or social science research. We can help you check quickly so you can focus on getting your R&D project off the ground!