The R&D Tax Incentive – Big discounts for your business

R&D Tax Incentive

Are you looking for more ways to optimise your company tax return through government grants and tax incentives?  Stay tuned as we break down the ins and outs of the R&D tax incentive in this article.  We will discuss the R&D tax incentive rate, using the R&D grant, the R&D tax incentive application process and more  With this information you can make an informed decision about hiring an R&D tax incentive consultant to assist with your application.

What is the Research and Development tax incentive?

The Research and Development tax incentive provides companies with a tax offset for expenditure on eligible R&D activities.  This incentive provides a credit on the eligible expenses in order to encourage business investment in innovation, research and development.  The tax offsets can be applied annually, providing a predictable support system to encourage spending on R&D.

Put simply, you get a tax refund of 43.5% on eligible R&D expenses, making these expenses essentially discounted by 43.5%!  This can be a major benefit for small businesses!

What types of items are claimable for the R&D tax incentive?

Indicators of whether your company conducts R&D include: