R&D Tax Incentive At a Glance
Is your business innovative and looking to grow?
If your business is doing research and development then the Australian Government’s R&D Tax Incentive may help offset some of the costs.
Provides a tax offset for some of a company’s cost of doing eligible research and development (R&D) activities by reducing a company’s income tax liability. Tax offsets of 43.5% or 38.5% are available for costs incurred on eligible activities depending on a company’s annual aggregated turnover. The 43.5% benefit is a refundable offset.
To find out more talk to us.
The Research and Development Tax Incentive:
- gives you more capital to fund development;
- is easy to access; and
- is open to eligible businesses in all industry sectors.
Why would you do R&D?
Businesses need to innovate to stay competitive, or to create new markets and opportunities.
Research and development is:
• developing new products and services;
• improving business processes; and
• solving problems and improve efficiency.
What does the R&D Tax Incentive offer?
A generous tax offset for eligible small and large businesses.
• A 43.5 per cent refundable tax offset for most small to medium companies with an annual turnover of less than $20 million per annum. If your company has a low income (or no income) it will likely get a cash refund.
• A 38.5 per cent non-refundable tax offset to other eligible businesses.