With only a few weeks left until the end of the 2019FY, we are urging companies to spend all their necessary R&D expenses before its too late. We often find that directors are not paying themselves a wage for their R&D work, or have not bought all the services or items required to undertake development…
Yesterday, the federal budget once again mentioned the proposal made last year to decrease the offset of the R&D Tax Incentive for businesses. It comes as no major surprise with the rejection of the R&D claim for big names such as Commonwealth Bank and tech companies like Airtasker making headlines as of late. The change…
For companies that have already completed their 2018FY R&D claim, or do not have a R&D claim for the 2018FY, the upcoming 2019FY R&D claim may be the last thing on their mind until applications open in 1 July 2019. At The Grant Specialists, we want to make sure that all companies are getting the…
With more and more companies delving into software development and with increased awareness of software development becoming an enabler of other industries, AusIndustry recently released new guidance on software activities to help provide information for companies claiming the R&D Tax Incentive. Whilst most information was already known from prior releases, the new guidance does help…
Last year, the Australian government planned to implement a $2.4 billion cut to the R&D Tax Incentive by introducing new caps on cash refunds along with changes in how the R&D offset was calculated for both small and large companies. With fears that companies will simply start undertaking R&D overseas, or halt activities altogether due…
Time is running out to access your R&D cash benefits. The Australian Government offers the R&D tax offset as a way to inspire new innovation in business. This innovation covers many areas such as; new processes, application development, as well as new technology, products, and designs. This fantastic Government initiative has flexible criteria for all…
The R&D Tax Incentive is a fantastic Government initiative has flexible criteria for all small to medium sized businesses. R & D is not a traditional accounting service, but rather, an expert service offered by dedicated R & D professionals. It requires professionals with the requisite degree of expertise in this area who can navigate…
The Research and Development Tax Incentive – What Are You Missing Out On?
The Research and Development (R&D) Tax Incentive has been around for a while in various forms. The Government provides this tax offset to encourage Australian companies to invest in R&D activities within Australia that benefit Australia. This incentive can provide up to 43.5% cash refund (*conditions apply).
With the holiday break just around the corner, we encourage companies have all their information and documentation ready to submit so they don’t get too overwhelmed when the New Year starts.
It is a busy period of the year for everyone, but for Research and Development claims, it becomes even busier during the last few months leading up to the 30th of April deadline.
Unfortunately, this means that your claims may take much longer to process due to a huge backlog of demand for clients to get their R&D Applications through before the cut.
At The Grant Specialists, we encourage clients to get their applications done earlier for a smooth sailing experience in receiving their refund. Here are some tips to keep in mind