About the Research & Development Tax Incentive (R&D)
The Research & Development Tax Incentive (R&D) is designed to encourage more companies to engage in R&D. It aims to:
- Boost competitiveness and improve productivity across the Australian economy;
- Encourage industry to conduct R&D that may not otherwise have been conducted;
- Provide businesses with more predictable, less complex support; and
- Improve the incentive for smaller firms to engage in R&D strategy
Are you ready to take the next step?
Has your company undertaken any form of business research? Software development? Or are you creating new or improved products, processes and/or services? Are you creating solutions to problems for which there is no pre-existing solution?
If so, you may qualify for the R&D Tax Incentive of either a 38.5%% non-refundable tax offset or a 43.5% refundable tax rebate.
How it works?
Example: A company makes a tax loss of $1.5m with R & D expenses of $2m for 30 June 2017.
Eligibility
You can only claim an R&D tax offset if you are a company and the following apply:
- Your company is registered for GST
- Your company incurred notional deductions for R & D activities of at least $20,000
- Applications are lodged by 30 April 2018
How we can help?
Our Tax Agents are specialists in preparing and lodging Research and Development (R&D) Tax Incentive Applications with AusIndustry and working with the Australian Tax Office (ATO), contact us at Accumulus Advisory to assess your eligibility.
