R&D Tax Incentives
The R&D Tax Incentive provides companies with significant financial benefits.
It is a targeted entitlement program, designed to assist businesses to offset some of the costs of undertaking Research and Development activities. It is open to firms of all sizes in all sectors who are conducting eligible R&D.
The R&D Tax Incentive provides tax offsets of 43.5% or 38.5% for costs incurred on eligible activities, depending on a company’s annual aggregated turnover. The 43.5% benefit is a refundable offset.
For example, if a company reports an operating tax loss, the company may be entitled to a refund equal to $43,500 for every $100,000 spent on R&D activities.
Contact Inventure for a FREE assessment of your potential benefit.Contact us now
Inventure Partners R&D App
The R&D Tax Incentive requires an annual application that involves:
- Collating and reporting technical information
- Preparing and submitting the AusIndustry application
- Assessing the accounting claim
- Applying the relevant R&D Tax Legislation
To assist in the collation of contemporaneous data, Inventure has developed an R&D Application (App) that is suitable for PC and mobile devices and is available FREE to Inventure clients.
What is R&D? - Does my company qualify?
If you are developing something, whether that be manufacturing, agricultural or software, the answer will most probably be 'Yes'. Contact Inventure for a FREE assessment of your eligibility.
Whilst Inventure's head office is based in Adelaide we operate across Australia.
We work with corporations, multi-nationals including those with complex group structures. Fixed-fee arrangements can be negotiated to ensure these costs are known and accounted for. Services under fixed fee arrangements can be grouped to include the suite of services offered by Inventure Partners.
How can Inventure help?
Inventure Partners' expert R&D Tax team will assist you to identify and report R&D activities and claim the R&D Tax Incentive.
Regardless of your company's size or industry we will partner with you to assess your eligibility, prepare and lodge your application and educate your team on R&D processes and principles. We will even stand by you through the inevitable AusIndustry review.
Inventure clients gain free access to the Inventure R&D App and we will up-skill and educate your staff with each and every claim.
What Inventure's contract with you contains?
We will typically offer the following services to our R&D Tax Incentive clients:
- Eligibility assessments
- R&D and Intellectual property structuring
- Project and R&D activity descriptions
- Claim assessment and technical scoping
- R&D Tax Incentive preparation
- R&D Tax advice
- AusIndustry audit preparation
- Preparation/update of R&D substantiation documentation
- Collation of eligible R&D expenditure for inclusion within R&D Tax Schedule and R&D Applications
- Preparation and finalisation of the R&D Tax Schedule
- Provision of a claim summary letter
- Interaction with your Tax Accountant
- Advice relating to an AusIndustry review or ATO audit
Inventure's head office is located on the fringe of Adelaide's CBD.
PO Box 1248 Unley SA 5061.
Let's Talk - Call: +61 (8) 7325 6288