R&D TAX Incentive

R&D Tax Incentives

Research and Development (R&D) tax incentives are government-implemented measures designed to encourage companies to invest in innovation, research, and development. These incentives are typically in the form of tax credits or deductions that reduce the overall tax liability of a company, making it financially more feasible to invest in R&D activities.

*Increased Cash Flow
*Risk Reduction
*Cost Efficiency
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Eligibility Criteria

1

Core Activities

The activities must involve experimental work aimed at generating new knowledge, such as improved materials, products, processes, or services. These activities should be conducted for the purpose of acquiring new knowledge or developing new applications of existing knowledge.

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2

Purpose and Scope

The R&D activities must be carried out for the purpose of generating new knowledge, with the intent to create a commercial benefit or improvement

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3

Location of Activities

Generally, the R&D activities must be conducted within Australia. However, in certain cases, activities conducted overseas may qualify if they meet specific eligibility criteria and are approved by the relevant authorities.

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How it works

R&D tax financing involves borrowing against the expected R&D tax incentive refund. Here's how the process typically works:

Initial Assessment
We conduct a thorough review of your business's R&D activities and financial health to determine eligibility for tax financing. This includes evaluating the scope of your projects and the potential tax offsets you can expect.
Application Support
We assist in gathering and organizing the necessary documentation required for the financing application, ensuring all records of R&D activities and expenditures are comprehensive and compliant with regulations.
Lender Liaison
We facilitate communication with lenders offering R&D tax financing, negotiating terms that are favorable to your business. Our goal is to secure the best possible interest rates and repayment conditions.
Agreement Management
Once approved, we help manage the financing agreement, ensuring you understand all terms and conditions. We also assist with any necessary adjustments during the loan period.
Repayment Coordination
When your R&D tax offset is received, we assist in coordinating the repayment process, ensuring that it aligns with the agreed terms and does not disrupt your cash flow.
Monitoring and Reporting
We provide ongoing support to track the progress of your R&D projects and the utilization of funds. Our team ensures that all activities remain compliant with the requirements of both the financing agreement and tax incentives.
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R&D Expenses can be

R&D staff salaries and wages
R&D contractor fees
Industrial design
Software development
Formula formulation
Prototype creation
Product testing
Manufacturing line automation
Engineering costs
Lab costs and testing
Patent new knowledge costs
R&D machinery
R&D rent
R&D overheads
R&D utilities

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Resource Centre

Q&A

They reduce the financial burden of conducting R&D by providing tax relief, which can enhance cash flow, lower the effective tax rate on R&D expenditures, and make innovation projects more financially feasible.

Businesses must register their R&D activities with the relevant government body, typically within ten months of the end of their income year. Detailed documentation of the R&D activities and expenditures is required to support the application.

R&D tax financing allows businesses to access funds based on their anticipated R&D tax offsets, providing immediate cash flow to continue investing in research activities. This can be especially beneficial for businesses that need to fund ongoing projects without waiting for the tax refund cycle.

02 9702 5212

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