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The program directly aligns with the Australian Government's focus on increasing total investment in research and development by offering businesses generous benefits to offset some of the costs for eligible R&D.
Are you developing new or improved innovative products or processes, undertaking experimentation or attempting to solve technical unknowns? If so, you may be entitled to access the R&D Tax Incentive program.
The R&D Tax Incentive can provide vital support for businesses by funding growth and fostering future innovation. As an entitlement-based program, it is open to a broad range of industries. From the early stages of an idea, to when you are seeking to diversify via innovation within an established brand or business (including carrying out product or process improvements) the R&D Tax Incentive is a key platform to attract innovative projects to Australia.
Thank you for your enquiry. A member of our team will be in touch shortly. In the meantime, view our latest R&D insights here.
There are several levels of support including a refundable tax offset for companies with an annual aggregated turnover less than AUD $20m and a non-refundable tax offset for companies with an annual aggregated turnover of $20m or more.
Aggregated turnover of less than $20 million.
Potential to receive a cash refund.
For example, if a company spends $200,000 on eligible R&D activities in a financial year, the company may be entitled to a refundable R&D tax offset of 43.5% (i.e., 25% + 18.5%), equating to $87,000. This will reduce any tax payable, with any remainder available as a cash refund.* (assuming a corporate tax rate of 25%)
Aggregated turnover of more than $20 million.
Tax saved (immediately or in the future).
For example, if a company spends $500,000 on eligible R&D activities in a financial year, the company may be entitled to a base non-refundable R&D Tax Offset of 38.5% (i.e., 8.5% + 30%), equating to $192,500. If the company’s R&D expenditure exceeds an R&D intensity of 2%, it may be able to access a higher R&D tax offset rate of 46.5% (i.e., 16.5% + 30%).* (assuming a corporate tax rate of 30%)
Supporting hundreds of clients each year, our team has a wealth of experience in making R&D claims in a broad range of industries.
Our real time R&D approach and proactive check-ins ensure you stay ahead of the curve, positioning you to finalise your R&D claim promptly and efficiently.
Our services are designed with a strong governance focus. We collaborate with you to establish robust R&D processes, methodologies, and documentation.
Through our understanding of international R&D incentives, we leverage the expertise of our network to support navigating and maximising global opportunities.
Identifying R&D activities and ensuring annual compliance with R&D Tax Incentive procedures and provisions.
Preparation of the R&D Application Form and R&D expenditure calculations.
R&D Health Check on previous or current R&D Tax Incentive claims.
Implementing R&D Tax Governance Frameworks.
R&D documentation workshops and process recommendations.
R&D Comfort Letters to assist with R&D financing.
Supporting to assist with international R&D through Overseas / Advance Findings.
Memorandum of advice in relation to specific R&D Tax provisions and guidance.
Providing support during ATO and Department of Industry, Science and Resources reviews.
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