Research and Development (R&D) Tax Incentive

R&D Tax Incentive is a program jointly administered by AusIndustry and the Australian Taxation Office (ATO) which helps to offset some of the costs you incur in conducting R&D activities – You could receive up to 43.5% of eligible R&D expenditure as a cash refund.

Are you eligible?

You are eligible if you are an incorporated company that pays tax in Australia, conduct at least one eligible core R&D activity, and spend a minimum eligible R&D expenditure of $20,000.

What are the eligible R&D activities?

There are two eligible R&D activities that can be claimed under R&D Tax Incentive:

Core R&D Activities

Core R&D activities are experimental activities:

  • Conducted based on a systematic progression of work which proceeds from a hypothesis to experiment, observation and evaluation, and leads to logical conclusions;
  • Whose outcome cannot be determined in advance on the basis of current knowledge, information or experience of a competent professional in the field
  • Must be conducted for the purpose of generating new knowledge.

Supporting R&D Activities

Supporting R&D activities are activities directly related to core R&D activities.

How do I apply for the R&D Tax Incentive?

1) Conduct Eligible R&D activities and spend R&D expenditure

2) Submit your R&D Application containing eligible R&D Activities with Ausindustry within 10 months of the end of your Company’s Financial year

3) Lodge your Company Tax Return (with R&D Schedule) with the ATO to get the R&D Tax Benefit

How we can help

MK Swan Consulting is pleased to offer our expertise in securing R&D Tax Incentive for our clients. 

We assist by:

  • Undertaking a project scoping exercise with you and your technical person(s) to discuss the R&D project activities and how they fit within the R&D Tax Incentive eligibility criteria
  • Writing a detailed technical R&D Project Description summarising R&D activities in collaboration with you and your technical person(s)
  • Working with your finance team/accountant to review each transaction and determine eligible expenses
  • Reviewing and improving your technical and financial records to ensure that they capture the details of activities and expenses claimed in the R&D Tax Incentive

Contact Us

Feel free to get in touch to claim your free consultation.

Address : Level 25, 300 Barangaroo Avenue Sydney 2000

Email : [email protected]

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