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 43.5 % refundable tax offset to eligible entities with an aggregated turnover of less than $20 million per annum.
  • If your aggregated turnover is $20 million or more, or you are controlled by exempt entities, then you can claim the non-refundable 38.5% tax offset.

Are you eligible?

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 the team at Charts for a risk-free assessment of the eligibility for your innovative projects.