RSM Australia

R&D tax incentive

Assisting businesses in accessing the R&D tax incentive

The R&D tax incentive is the Federal Government’s primary support program for innovation. It is an eligibility, retrospective claim based program, whereby eligible Australian companies register and claim the benefit. It is based on the principles of self-assessment, followed up with a comprehensive compliance review process by the appropriate government bodies.

Many people still do not realise that R&D tax applies to 'real world' innovation, not just high tech science projects. Companies developing and improving products and processes are equally eligible.R&D tax incentive support

In addition, many people do not realise that companies with tax losses (with grouped turnover less than $20m) are eligible to receive cash from the ATO, not just increases to future tax losses.

R&D TAX solutions for businesses of all industries

We have an experienced team of R&D tax advisers with mixed science and accounting qualifications and backgrounds. Our clients range from startups to multinational corporates, and cover industries from agriculture to banking.

We are active supporters of the Innovation Community, sponsoring events, providing speakers and committee members to a wide variety of associations and groups.

We are happy to meet and talk about how the R&D tax incentive program may benefit you at no charge or obligation.

Budget "sweeteners" diminished by downside economic risks

The budget will be an opportunity to provide a suite of sweeteners to voters ahead of the expected May election.

Proposed R&D tax changes don't stand up to Senate scrutiny

The Senate’s Economics Legislation Committee report was tabled on Monday 11 February and in its collective wisdom, the committee has put on hold proposed changes to the research and development (R&D) tax incentive.

What foreign owners of residential property need to know about lodging their annual return

In late 2017, the Australian Federal Government introduced an annual vacancy fee to be levied on  foreign owners of residential property, where the property is not occupied or generally available on the rental market for at least 6 months in a 12 month period. 

How the PM’s defeat impacts corporate tax rates

Following the proposal for reduced tax rates for corporate entities in 2016, the Treasury Laws Amendment (Enterprise Tax Plan No 2) Bill 2017 (the Bill) was ultimately defeated in the Senate on 23 August 2018 by a vote of 36 to 30. 

Foreign incorporated companies and changes to the tax ruling - What you need to know.

Most will remember the 2016 High Court ruling in the case of Bywater Investments Limited.

Reduced corporate tax rates - what rate of tax will my company pay?

While the legislation is transitioning, some have been left confused about the application of reduced corporate tax rates and the details of eligibility criteria during this state of limbo. To provide some clarity, we take a closer look.

Fringe Benefits Tax – ATO finalise their position on private use of vehicles.

New guidelines for private use exemptions of eligible motor vehicles for Fringe Benefits Tax (FBT) - ATO says yes to making a quick stop to grab a coffee (as long as it doesn’t add more than 2kms to your trip to work and is infrequent) but no to heading to cricket practice after work. 

R&D Tax Incentive Reform - Call for submissions

R&D tax reforms, as announced in the 2018-19 Federal Budget, are steps closer to implementation with the Treasurer and Minister for Jobs and Innovation releasing draft legislation proposed to enact the changes. 

New GST withholding rules - what property purchasers and developers need to know

The Federal Government has passed legislation that will require purchasers of new residential properties to remit the GST directly to the Australian Taxation Office (ATO) as part of settlement. The measures were first announced in last year’s Federal Budget. The legislation specifies: 

Pages