What is the R&D Tax Incentive?

The R&D Tax Incentive government program provides financial benefits to companies investing in the development of new or improved products, processes, services, materials or devices. The range of eligible activities is extremely diverse and may include any work undertaken to achieve improvements in performance, functionality, usability, efficiency or environmental impact.

The R&D Tax Incentive program allows Australian businesses to claim a tax offset or cash rebate for expenditure on eligible activities. Designed to foster innovation and cutting-edge research, the R&D Tax Incentive program has supported some of Australia’s greatest innovations since it’s inception.

Did you know it’s a cash refund for small companies?

If revenue <$20mil and in tax loss gives up to 45% cash rebate on your eligible R&D expenditure.

If your business turns over less than $20mil in revenue and you are in a tax loss position, then up to 45% of your eligible R&D expenditure with be refunded by the Government. This means real working capital for your project and cash flow for your business, so you can focus on developing your product without the pressure of needing funding.

Other eligible companies undertaking R&D are entitled to the following financial incentives:

– If revenue <$20mil and in profit 15% Net-Benefit-After-Tax

– If revenue >$20mil and loss or profit position 10% Net-Benefit-After-Tax

Please note you have 10 months after the end of your company’s financial year to register your R&D Tax Incentive claim for that period. This deadline is immovable and, unfortunately, extensions are granted only in exceptional circumstances.

Our fees are based on your claim.

If we don’t identify a benefit for you, we don’t get paid. It keeps us motivated to find you every dollar you’re entitled to.

Our Team only work in R&D and grants.

Our Directors and entire consulting team work solely in the R&D Tax Incentive and grant space and have been doing so since 1993. With several billions of dollars in R&D Tax claims to date, we’re well placed to help you maximise your entitlement.

How do I find out more?

Call us on (02) 9229 0100 for a free program outline and consultation about your activities, over coffee.

Learn more about the program by downloading AusIndustry’s R&D Tax Incentive Customer Information Guide.

* The Australian government has recently announced its intention to change the above rates. However, this proposal coincides with a further proposal to drop the corporate tax rate from 30% to 28.5%, meaning that the net impact to companies claiming the Incentive will be zero. Please note that all of the above are yet to be legislated. As always, we keep abreast of all relevant government movements and will provide additional information as it becomes available.

NOAH Consulting specialises in assisting companies seeking to access benefits offered by the R&D Tax Incentive. We remove the hard work associated with analysing how the program’s eligibility criteria apply to your business and daily activities. Although our aim is to maximize the benefits for your business, we always seek to do so in a responsible and prudent manner.