Eligible for the R&D Tax Incentive in Australia?

If you are conducting activities centred around new knowledge development, technical unknowns and experimentation – you may be eligible for the R&D Tax Incentive.

The R&D Tax Incentive at a Glance

The R&D Tax Incentive is an Australian Government program that provides tax offsets to encourage companies to invest in eligible R&D activities.

What Can You Potentially Claim?

Companies with under $20M turnover can access a refundable tax offset worth 18.5 cents per dollar of eligible R&D spend – up to 43.5 cents in the dollar depending on tax position.

Types of R&D Activities

When claiming the R&D Tax Incentive, businesses can include costs from both Core and Supporting R&D activities.

Core

Technically innovative projects that generate new breakthroughs in scientific knowledge, products or processes.

Supporting

Any activity conducted to support a Core Activity.

Find out if you're eligible

At a high level if the answer to each of the following is “YES“, there is potential for an R&D Tax Incentive claim:

Do you operate your business via a company incorporated in Australia?
Are you attempting to develop new/improved materials, products, devices, processes or services?
Are you conducting systematic experimentation for the purpose of creating new knowledge?
Does your experimentation contain technical unknowns?
Have you spent at least A$20,000 on the R&D Project?
Do you hold or have right to the resultant IP?
Were the activities conducted in Australia?

Overseas activities can be claimed in some circumstances for which a special application is required.

While online calculators can be helpful, eligibility is best checked during a conversation with an expert.

Book a Complimentary Eligibility Consultation

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R&D Claims Processed

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Grant Funding Secured

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Avg Claim Completion

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Unlike our competitors, our team is composed of STEM and accounting professionals.

This ensures a deep understanding of the scientific and technological intricacies of your projects, setting us apart from firms with only a handful of experts.

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Benefit from our deep bench of specialists across government incentives, tax & advisory, corporate governance and finance function

Documentation Support

Beyond securing your R&D tax incentives, we help you implement best-practice documentation processes to ensure you claim for all eligible R&D activities.

What Our Clients Say

I can’t recommend the team at InCorp Advisory highly enough. We brought them on board to handle our company’s R&D claim and from initial submission through to a prelim audit they were efficient, professional and delivered on every promise. I was so impressed I now even use them to manage my personal tax affairs.

Kit Lakin

Co-Founder Lendly

I've been using the services of InCorp Advisory for the past 5 years and found their contribution to my businesses practical and invaluable. From their business advisory to taxation matters right up to their virtual CFO roles, their level of engagement and commitment has been nothing short of absolute brilliance.

Avi Ramcharan

Head of Business Australia Pharmaco

Saeed and his dynamic team are always responsive and happy to lend a hand with simple and complex matters. Over the years I’ve recommended the services of InCorp Advisory to a number of industry colleagues and every one of them still continues to praise the efforts and capabilities of the company.

Tommy Lim

Managing Director of SF Capital

Coming across someone like InCorp Advisory’s Sameer is a very rare find. He’s one in one hundred. Working with him is easy; his advice is always right and he gets on with the job. InCorp is an essential part of our business.

James Bruce

Co-Founder of StrangeLove Beverage Co

In an industry that’s renowned for slow and stuffy thinking, InCorp Advisory is the next generation solution. They're unmatched for speed and quality of thought—and anybody who wants to grow in a modern world would be wise to have them on the team.

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CEO of Step Change

Industries We Work With

AI / Software / Technology

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Engineering

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InCorp has

Simplifying the process for you

We are the go-to firm for growth and emerging companies, with Big 4 expertise and a multi-disciplinary team that can really understand your research and development activities.

Our in-house team of accountants, well-versed in the fields of software development, engineering and science provide a full solution to:

Offer tailored fees with no upfront cost;
Minimise your time commitment by transferring the bulk of document preparation to us, significantly saving your team valuable time;
Average completion of the R&D claim from start to lodgement of 5-6 weeks.

We have:

30+ years experience support Australian & International Businesses
Invite-only Membership of the NSW State Reference Group

Understanding the R&D Tax Incentive

Applies to companies incorporated in Australia
Eligibility centred around new knowledge, technical unknowns and experimentation
Minimum cash benefit of 18.5c in the dollar (max 43.5c) for companies with less than $20m turnover
Must be lodged with AusIndustry within 10 months following financial year-end
Includes salaries/wages, contractors, materials and overheads.

Resources

R&D Tax Incentive Fact Sheet

Download the R&D Tax Incentive Fact Sheet to see what you might be entitled to claim.

R&D Capability Statement – Food & Beverage

Understand how the R&D Tax Incentive could benefit your Food & Beverage business.

R&D Capability Statement – BioTech

Understand how the R&D Tax Incentive could benefit BioTech businesses.

R&D Capability Statement

Download InCorp Advisory’s R&D Tax Incentive Capability Statement.

FAQs

What is the R&D Tax Incentive?

The R&D Tax Incentive is an Australian government program designed to encourage businesses to invest in research and development.

It provides tax offsets for eligible R&D activities, which can help reduce the cost of innovation.

What types of activities qualify as R&D under the R&D Tax Incentive?

Eligible R&D activities are classified as either core R&D activities or supporting R&D activities.

Core R&D activities are experimental activities whose outcome cannot be known or determined in advance, but can only be determined by applying a systematic progression of work.

Supporting R&D activities are those that are directly related to core R&D activities.

Examples include laboratory research, clinical trials, development of new products or processes, and the enhancement of existing products through innovation.

Are there other Australian Government Grants?

The Australian Government offers several grants that can give innovative small and medium-sized businesses the critical cash funding they need to move forward.

Unfortunately, few business owners take advantage of them. Out of the millions of Australian businesses currently eligible for the Government’s Research & Development Tax Incentive, approximately 70 percent haven’t applied for it.

To learn more about other grants available alongside the R&D Tax Incentive, visit our Government Incentives page.

https://australia.incorp.asia/services/government-incentives/