Tax incentive you are missing out on

Don't Miss Out on R&D Tax Incentives

Many businesses are missing out on valuable support through the R&D tax incentive without even realising it. The truth is, the eligibility requirements are broader than most people think, and there’s a good chance your business could qualify.

When it comes to R&D, it’s not just about traditional research labs or cutting-edge tech. Software development, engineering, and even food technology can all qualify. If your business is solving a technical problem and there’s experimentation involved, you might be eligible – it’s that simple.

Too often, I see businesses underclaiming or completely missing out because they assume their work doesn’t fit the criteria. But if you’re innovating or developing something new, there’s a very real chance you can access these incentives.

What Does the R&D Tax Incentive Offer?

The Australian government introduced this incentive to boost innovation and research in the private sector, with the goal of improving Australia’s global competitiveness and economic future.

For businesses with annual turnover under $20 million, there’s a refundable tax offset of 18.5% above your corporate tax rate. Larger businesses can still benefit with non-refundable offsets:

• 8.5% for R&D spending below 2% of total expenses
  
• 16.5% for R&D spending above 2%
  

How Your Business Can Benefit

The key to making the most of the R&D tax incentive is to engage early and get the eligibility criteria right. The process can be complex, and it’s important to keep strong documentation of everything from experiments to technical challenges. Doing this gives you the best chance of a successful claim.

R&D isn’t just about compliance – it’s a strategic tool that can drive innovation, attract investors, and improve your cash flow. By planning ahead and incorporating R&D tax strategies into your broader business and innovation plans, you’ll position your business for success.

R&D Incentives: More Than Just a Refund

The R&D tax incentive isn’t just a refund or a cost-saving measure – it’s a way to invest in your business’s future. Many businesses don’t realise how much support is available to them, and I’m here to help you make the most of it.

Book Your Complimentary Chat

If you’re not sure whether you qualify or think you might be missing out, let’s have a quick chat. I’ll help you understand if the R&D tax incentive applies to your business and how you can make the most of it. Schedule your free consultation today!