Research & Development Tax Incentive

Any company incorporated in Australia that is conducting eligible Research and Development activities can apply for the R&D Tax Incentive (R&DTI). Eligibility criteria includes spending at least $20,000 on R&D and ensuring the activities meet the definition of core or supporting R&D activities as outlined by the program.  

The claimable amount through the R&D Tax Incentive depends on the turnover of your business. Small businesses with an aggregated turnover of less than $20 million can claim a refundable tax offset of up to 43.5% on eligible R&D expenditure. Larger businesses can request a non-refundable tax offset of 38.5%. You can submit applications for eligible R&D activities conducted in the previous income year, but it’s crucial to maintain accurate records and documentation to support your submissions.

Eligible Research and Development activities involve experimental processes aimed at generating new knowledge or improving existing products, processes, or services. These activities require investigation and a level of innovation. Core activities directly contribute to new advancements, while supporting activities assist and enhance the core R&D efforts.

FundFindrs provides end-to-end support for your R&DTI application. Our experienced consultants handle everything from identifying eligible activities to preparing and submitting the application. Our no-win, no-fee policy means we only charge for our services if your R&DTI application is successful. This ensures that we are as invested in your success as you are. Contact us through this page and schedule a FREE consultation to maximise your R&D tax incentive claim.