R&D involves innovations across all aspects of business, including new products, enhanced processes and fresh ways of working.
But innovation can be an expensive pursuit.
To address this cost, it can be beneficial for companies to access R&D tax incentives offered by the federal government. In our experience, companies do not understand all the requirements of these programs.
At Grant Thornton, our specialist R&D team can help you identify and apply the rules, and to make the most of your R&D investment.
For example, if your company turnover is less than A$20 million a year, you could be eligible for a 43.5 per cent tax offset on eligible R&D spending.
We can help to identify your eligible R&D activities, and to build a robust case for making a claim by collating accurate supporting documentation. We’ll also work with our other teams to suggest additional grants your business could be eligible for.
Elevating your international growth
Applications are open for the 2020 Export Market Development Grant (EMDG) program. Be it products, services or IP, this grant is the Federal Government’s cornerstone funding program for businesses who export or who are looking to elevate their international strategy and operations.
For more information about the EMDG program, and how we can support you, visit our website page here.