What is R&D Tax Incentive?

The Research & Development (R&D) Tax Incentive is a government incentive program that helps businesses offset some of the costs of doing R&D. At Charts Partners we have assisted many organisations with their R&D incentives particularly in manufacturing, IT and Agribusiness.

The program aims to help more businesses do R&D and innovate by providing the following benefits:

  • A 45 per cent refundable tax offset to eligible entities with an aggregated turnover of less than $20 million per annum.
  • A 40 per cent non-refundable tax offset to all other eligible entities.

Are you eligible?

Eligible R&D entities can self-assess their eligibility. AusIndustry has developed an Online Eligibility Tool that will help you to assess the likelihood that your company and its R&D activities are eligible for the R&D Tax Incentive.   http://rdincentiveeligibilitytool.ausindustry.gov.au

We partner with you throughout the entire process of the R&D claim by providing the following services:

  • Identifying R&D tax activities.
  • Assessing the eligibility for the R&D Tax Incentive.
  • Calculating R&D expenditure and performing a cost benefit analysis of the R&D claim.
  • Preparing an application to register R&D activities with AusIndustry and lodgment of necessary R&D schedules with the entity’s income tax return.
  • Assisting management in setting up systems and processes to ensure adequate R&D documentation is retained.
  • Assisting with preparation of documentation for substantiation requirements.

Please contact Krishna or Andrew to discuss the eligibility requirements and actions required to access the benefits of the R&D Tax Incentive.