R&D Tax Incentive
Performing the activities of your Research & Development is one aspect of project work but it is quite another matter to describe how these activities comply with government legislation, in terms of new knowledge, hypothesis, experimental steps, outcomes and conclusions. This is where AB&H can assist companies with their application for the federal government’s R&D Tax Incentive.
At AB&H we have experience across many domains and we can analyse your projects and then describe, in concise detail, the Core and Supporting activities of your project(s) in the format that complies with the guidelines to register for the Federal Government’s R&D Tax Incentive. Our experts can then determine the allowable Total Notional Deductions and provide detailed instructions on how to claim the incentive via your annual tax return.
In addition to facilitating your submission for registration with the Department of Industry, Innovation and Science, we advise and assist you with compliance for record keeping, so that the supporting information for your project(s) is well maintained and up-to-date and is readily available in the event of a review of your project(s).
If you are an innovative company Pty Ltd or Ltd and engaging in Research and Development(R&D) there is a high probability that your company is eligible to receive the R&D Tax Incentive. This can give you up to 43.5 cents of every dollar spent on eligible R&D expenditure.
AB&H Technology Services can explain the jargon and assist companies to determine their eligibility for the program. We will explain the requirements for compliance when a company registers with AusIndustry – Department of Industry, Innovation and Science.
Performing the activities of your Research & Development is one aspect of your project work but it is quite another matter to describe how these activities comply with government legislation…
Are you developing new knowledge that has not been discovered previously, anywhere in the world?
Is there an element of uncertainty and can you define project risks that demonstrate this uncertainty?
Has your project followed a systematic progression and have you planned your project activities in advance?
Have you developed and maintained project records that show scheduling of activities and the resources expended (e.g. cost of materials, cost of labour etc.)?
Has the Research & Development been conducted via a Pty Ltd or Ltd Company and has the company spent more than $20,000 on Research & Development in the year to be registered?