- What is the R&D Tax Incentive? Get Up to 43.5% Back
The Program is an initiative implemented by the Australian government to encourage and support research and development activities within the country.
If you have been developing your own products/solutions/processes, you could be eligible to get up to 43.5% back on your spending.
For example, you spent $100k developing your unique algorithm that is going to blow people away, you could get up to $43.5k back! Ask us how!
For eligible small to medium-sized companies with an annual aggregated turnover of less than $20 million, they may receive a refundable R&D offset rate equal to their corporate tax rate plus an 18.5% premium.
For larger companies with an annual aggregated turnover of $20 million or more, they may receive a non-refundable R&D tax offset rate equal to their corporate tax rate plus an incremental premium. This offset can be used to reduce the company’s income tax liability.
Are you an inventor? Creating unique products? Solving Problems? Filling Gaps in the Market? R&D comes in all shapes and sizes.
At Granton, we know how to best navigate the R&D Tax Incentive Program to ensure we submit a quality submission that properly reflects the innovation occurring in your business. We assist with these applications on a competitive success fee basis.
