The R&D Tax Incentive is one of the best government incentives out there — regardless of your business size. Offered by the Australian Taxation Office and AusIndustry, it provides a generous offset to encourage research and development activities that can benefit the national economy.
For companies with a turnover under $20 million, it can deliver a cash benefit of up to 43.5 percent. For those with a turnover more than $20 million, the benefit is still significant, as a 38.5% non-refundable tax offset.
To qualify, you need to be an Australia-based business that has participated in one or more of the following activities over the last year:
- Developed an innovative product, service, device or process
- Outsourced research activities
- Licensed new technology and tried it on a trial basis
- Attempted to solve an industry-wide problem
- Completed trials that led to lost goods
- Other activities intended to generate new knowledge
You may be conducting research and development without knowing. And you’re not alone. A shocking 70 percent of eligible businesses aren’t currently taking advantage of the R&D incentive, effectively leaving money on the table.
Claim Your Cash
At CharterNet, we’ll manage the entire application process for you, including prepping and submitting your documents. Plus, there’s no up-front or minimum fee. In fact, if your incentive isn’t granted, there’s no fee at all.
We work with you to define eligibility and identify potential R&D projects.
Using our unique interview-based ‘reverse audit methodology,’ we prepare your recommended supporting documentation, including R&D project plans.
We calculate your eligible R&D expenditure on a project-by-project basis.
We prepare your application for registration of R&D activities for lodgement with AusIndustry, and if approved, the R&D schedule for lodgement with the Australian Taxation Office.
We liaise with AusIndustry and the Australian Taxation Office in the event of any review or audit.
We’ve helped companies of all shapes and sizes, from a wide range of industries, maximize their claim for the R&D Tax Incentive. With a 100-percent success rate and over $100 million in R&D incentives claimed to date, we’re sure we can help yours too.