The R&D tax incentive is designed to encourage more companies to undertake research and development activities. Find out if your R&D is eligible. Get in touch today.
The Australian Government’s R&D tax incentive provides targeted offsets that aim to encourage more companies to engage in R&D, in order to contribute to a stronger economy.
The incentive is designed to encourage research and development activities that companies may not otherwise do due to uncertain returns and risk.
The R&DTI offers two levels of tax offset depending on your aggregated turnover:
Who is eligible?
The R&D Tax Incentive is a self-assessment program.
To apply, your R&D activities must be registered with the Department of Industry, Innovation and Science for approval. You can apply to register within 10 months of the end of your company’s income year. You may then receive a tax offset when you lodge your Company Income Tax Return.
To find out whether your activities meet the legislated criteria talk to us or visit the Department of Industry, Innovation and Science.