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.
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.
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.