R&D Tax Incentive

Reach your Saving Point with R&D Tax Incentive

The Australian government has a long history, going back over 30 years, of providing a generous benefit to companies undertaking research and development. The current regime, the R&D Tax Incentive, provides the benefit through a tax offset calculated based on the expenditure a company incurs on activities deemed to be research and development. It is envisaged that this incentive will boost company competitiveness, improve productivity and ultimately stimulate the national economy.

Benefits of R&D Tax Incentive

For activities  carried out since 1st July 2017, eligible businesses have been entitled to the following benefits:

%

Refundable tax offset

For companies with a group turnover under $20 million

%

Non - refundable tax offset

For companies with a group turnover of $20 million and above

Eligibility Assessment

Determine Your Eligibility via our Eligibility Assessment service.

Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- 30 min/ Phone Discussion
- R&D Sample Documentation Review
- Risk Assessment

Only $290

R&D Online Application

Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- 30 min/ Phone Discussion
- Online Application Review (2 reviews)
- R&D Sample Documentation Review
- Risk Assessment
- Preparation of R&D application

Only $1450

Start Your Own R&D Application and let our experts review it giving you confidence in your R&D claim

Complete Application Service

Save time and get the Saving Point Team to help you through our Complete Application Service.

Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- Phone Discussion
- Online Application Review (2 reviews)
- R&D Sample Documentation Review
- Risk Assessment
- Preparation of R&D application
- Resolution of Potential Issues
- R&D Costs Review, Compile Report and R&D Tax Schedule
- Lodgment of R&D Application
- Assistance with Post Registration Reviews and Audits

CUSTOM PRICING

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https://savingpoint.com.au/rd-application-review-process/

R&D complete service

Eligibility Assessment

Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- 30 min/ Phone Discussion
- R&D Sample Documentation Review
- Risk Assessment

R&D Application Service

R&D Online Application

Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- 30 min/ Phone Discussion
- Online Application Review (2 reviews)
- R&D Sample Documentation Review
- Risk Assessment
- Preparation of R&D application

R&D Scoping Form

Complete Application Service

Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- Phone Discussion
- Online Application Review (2 reviews)
- R&D Sample Documentation Review
- Risk Assessment
- Preparation of R&D application
- Resolution of Potential Issues
- R&D Costs Review, Compile Report and R&D Tax Schedule
- Lodgment of R&D Application
- Assistance with Post Registration Reviews and Audits

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R&D complete service

Eligibility Assessment


Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- 30 min/ Phone Discussion
- R&D Sample Documentation Review
- Risk Assessment

R&D Application Service

R&D Online Application

Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- 30 min/ Phone Discussion
- Online Application Review (2 reviews)
- R&D Sample Documentation Review
- Risk Assessment
- Preparation of R&D application

R&D Scoping Form

Included:
- Eligibility Business Structure Review
- Projects and Activities Review (up to 2 projects)
- Phone Discussion
- Online Application Review (2 reviews)
- R&D Sample Documentation Review
- Risk Assessment
- Preparation of R&D application
- Resolution of Potential Issues
- R&D Costs Review, Compile Report and R&D Tax Schedule
- Lodgment of R&D Application
- Assistance with Post Registration Reviews and Audits

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The incentive is designed to help companies offset the costs of research and development!

This may include developing innovative new and improved products, gadgets, software apps, manufacturing processes, and systems.

Watch the R&D video and learn more!

Eligible activities

 

Core Activities

Under section 355-25 of the Income Tax Assessment Act 1997:

Core R&D activities are experimental activities:

  • whose outcome cannot be known or determined in advance on the basis of current knowledge, information or experience, but can only be determined by applying a systematic progression of work that: is based on principles of established science; and proceeds from hypothesis to experiment, observation and evaluation, and leads to logical conclusions; and
  • that are conducted for the purpose of generating new knowledge (including new knowledge in the form of new or improved materials, products, devices, processes or services).

 

Supporting Activities

Under section 355-30 of the Income Tax Assessment Act 1997:

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

However, if an activity is an activity referred to in subsection 355-25(2); or produces goods or services; or is directly related to producing goods or services; the activity is a supporting R&D activity only if it is undertaken for the dominant purpose of supporting core R&D activities.

Why Saving Point?

Our experienced team of consultants, with a high degree of practical knowledge in R&D processes and compliance standards. Will dedicate their expertise to your application for the R&D Tax Incentive. Offer a detailed analysis of your eligible R&D projects. Simplify the process of applying and receiving the rebates R&D Tax Incentive.

Saving Point Methodology

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Investigate

Our specialised consultants will liaise with you to identify all eligible R&D projects and expenditures, investigate compliance with eligibility requirements.

Prepare

Preparing all the information and materials required in the registration process for you. We prepare technical reports based on the supporting documentation and interviews conducted.

S

Analyse

Calculate your eligible R&D expenditure and maximise the benefit of the incentive to you whilst achieving complete compliance with the ATO.

Report

Documentation of our entire process and providing you with a final report of information related to the claim for your record keeping.

Lodge

Assembling all the documentation required by AusIndustry and the ATO for strong application submission.

Support

We are confident and committed in assisting you through the process of any potential review, audit or future grants.

Expenses

The type of costs that can be included in a claim for the R&D Tax Incentive include expenses such as:

Z

Salaries and super for project staff

Z

Australian-based consultants, researches or contractors

Z

Prototype build and production trial development

Z

Company overheads

Eligible entities

A business can only claim an R&D Tax Incentive if it is an R&D entity. To qualify as an R&D entity a business will be any of the following:

  • Incorporated under Australian law.
  • Incorporated under a foreign law but an Australian resident for income tax purposes.
  • Incorporated under foreign law and you are both
  • A resident of a country with which Australia has a double tax agreement that includes a definition of ‘permanent establishment’; and
  • Carrying on business in Australia through a permanent establishment as defined in the double tax agreement.

 

Hot Topics

Preparing a claim for the R&D Tax Incentive can be an onerous task. , therefore the team at Saving Point is across all of the issues and eligibility requirements.
 
If you’re considering putting a claim together, it’s important to have an understanding of all requirements. So can maximise your entitlement.

Feedstock

Companies claiming the R&D Tax Incentive may engage in R&D activities that produce marketable or usable goods. In the circumstance of these tangible products being used or supplied to another entity, a feedstock change may be required.

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Payments to Associates

As part of the R&D Tax Incentive, companies incurring expenditure to an associate may be eligible to get an R&D tax offset. For that amount, if the amount owed has been paid to the associate within the year of the claim.

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Aggregated Turnover

If you aren’t controlled by an exempt entity, you must work out your aggregated turnover to identify which tax offset you can claim. The rules for calculating aggregated turnover are the same as those for the small business entity concessions.

Read More

R&D Tax Incentive Deadline

(for companies with an income year end of 30 June)

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Reach Us

Suite 15/8 Tuck Street
Moorabbin VIC 3189

Level 14, 333 Collins Street, Meblourne VIC 3000

(03) 9555 3551

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