Is my business eligible?If you can answer yes to the questions below, you will potentially be eligible to apply:
- Is your company a Proprietary Limited Australian company? (i.e. not a Partnership, Sole Trader or Trust)
- Are you undertaking projects that are either innovative, or involve a development cycle with significant testing, analysis and risk of failure?
- Have you spent more than $20 000 on these projects during the previous financial year?
Now, to be eligible for a tax offset (rebate), you will need to ask yourself:
- Is your Total Group Company Turnover less than $5 million in the financial year? (This will change from 1 July 2011 to $20 million)
- Would you have spent less than $2 million on R&D in the financial year? (There will be no cap from 1 July 2011)
- Will you be in a tax loss situation for the financial year?
If your company is running at a profit, then we may be able to reduce the amount of tax you need to pay.
It’s that simple.
What happens next…
Contact us and we will go through the entire claim process with you. We will get some information from you which will quickly determine if the project/s are eligible to qualify.
How much does this part of the process cost?
Nothing. This stage is completely obligation free. For more information regarding our service fees, please click here.
Call us today - What have you got to lose?
Use our tax concession calculator to work out what your company can expect to gain from the R&D Tax Concession.
