WHAT IS THE R&D TAX INCENTIVE?
The R&D Tax Incentive is the Australian Government’s principle measure to enhance and increase the amount of research and development undertaken to assist Australian companies to become more innovative and internationally competitive. The R&D Tax Incentive is jointly administered by Innovation Australia, through AusIndustry and the Australian Taxation Office (ATO).
WHAT IS THE BENEFIT?
Companies with a turnover less than $20 million can claim a 43.5% refundable tax offset.
Companies with a turnover of more than $20 million can claim a 38.5% non-refundable tax offset.
For more information visit AusIndustry online at http://www.business.gov.au