25th August 2023 | Grants
The Research and Development (R&D) Tax Incentive is a government grant limited to Australian companies to stimulate Australian investment in Research and Development (R&D).
It offers offsets to certain company costs in carrying out eligible R&D activities. It is not a competitive grant but a targeted tax offset or expenditure rebate. Reducing costs and risk of undertaking R&D activities for your business and incentivising companies to create new or improved products, processes, and services.
Eligibility;
- Spending of or over$20,000 in one financial year
- Operate a Pty Ltd company in Australia
- Generate new knowledge or improvement
(Ineligible structures are tax-exempt entities, partnerships, sole traders and trusts)
What R&D service do we offer?
We offer an R&D tax incentive service that can help optimise your business by curating success and improvement. Our specialists can provide the following benefits to your company:
- Identify eligible R&D activities
- Calculating R&D tax credits
- Assistance with documentation
- Preparing and filing R&D tax incentive claims
- Ongoing support with current information
The benefits
Less than $10M revenue:
The R&D tax incentive provides a 43.5% refundable tax offset.*Any unused tax offset (tax reduction) can be returned to you as a cash rebate*
If you would like to know more don’t hesitate to get in touch with our office to speak to one of our Agents 03 9995 7261
Or email info@Ax3.com.au