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R&D Tax Incentive Consultant
MJA helps you unlock the full potential of the R&D Tax Incentive.
MJA helps you unlock the full potential of the R&D Tax Incentive and navigate compliance requirements effectively
Maximise your Organisation’s Potential with MJA’s R&D Tax Incentive Consulting Services
With our over 150 years of combined experience, we can guide you through the complexities of the R&D Tax Incentive program and other Federal Government Innovation programs to:
- Identify eligible R&D activities and associated expenditure for R&D tax claims
- Apply for Overseas and Advance Findings to claim eligible work outside Australia
- Prepare comprehensive R&D tax claims to ensure you access your full entitlements in line with your individual tax risk appetite
- Establish internal systems and processes to make compliance easy
- Navigate compliance reviews and audits effectively
- Provide expert advice on ESIC Private Ruling Applications
- Prepare or review grant applications
We collaborate closely with your team to build trust and rapport and provide you with a quality service. Our unmatched expertise and proven track record since 1983 ensures you are speaking to consultants who genuinely know how the programs work, how to make claiming easy by leveraging off your existing practices and ensure you get accurate information, effective training and proactive guidance throughout.
R&D Tax Incentive Solutions Across Sectors
We have extensive experience working across all industry sectors to ensure we can provide a tailored solution to your own unique needs.
Manufacturing
Navigating the application of the R&D tax rules to a manufacturing claim (including complex issues like feedstock calculations, apportionment of manufacturing expenditure, identifying when maintenance becomes R&D etc) can be challenging. MJA has decades long experience in supporting you make these claims.
Startups
Do you have the right business structure, IP arrangements and contracts in place to ensure you can access your full entitlement to the R&D tax program? MJA can help you navigate this and ensure you are in the best position to get government funding for your start-ups eligible R&D.
Tech
As one of the largest industry sectors participating in the R&D tax program, the government focuses attention on Tech claims. To understand the specialised guidance material and to know how to build a strong claim with appropriate record keeping, MJA can partner with your business to use our decades’ long experience in preparing software and technology claims.
How We Work
1
Discovery
We meet with your team to understand your business, discuss your innovation efforts and identify your candidate R&D activities
Eligibility
We discuss with you the eligibility criteria and help evaluate your activities and expenditure that qualifies for an R&D tax claim.
2
3
Documentation
We discuss with you record keeping requirements, review your documents and collate the evidence required to support your claims
Submission
We draft your activity summaries for your review before preparing the registration application for submission with DISR
4
5
Calculation of Claim
We interrogate your financial reports and calculate your annual claims
Preparation of Tax Schedule
We prepare the Schedule for inclusion in your company tax return
6
7
Final Report
We provide detailed reports with all your relevant claim information in our Annual Final Report
Take the First Step Towards Maximising Your R&D Tax Benefits Today!
Our team of experienced experts can work with you to maximise your entitlements under the R&D tax program – contact us to find out how.
Frequently Asked Questions
What sort of businesses can claim the R&D Tax Incentive?
Any business looking to introduce new or improved products, processes, devices, materials or services that have a technical edge or overcome a technical problem may be doing R&D. If that business is creating new knowledge – or expanding existing knowledge – to provide this technical solution, then it is doing R&D. Therefore, this business may be able to claim the R&D Tax Incentive.
The R&D Tax Incentive is specifically designed to assist and encourage companies in sectors including the following:
- Manufacturing
- Building and construction
- Agriculture
- Biomedical
- IT
- Banking and finance
- Mining and minerals processing
Is my company eligible to claim the R&D Tax Incentive?
To be eligible to claim the 43.5% refundable tax offset, your company (or company group) must have an annual turnover of less than $20 million and annual R&D expenditure of at least $20,000. Companies with an annual turnover of more than $20 million and meet the above criteria are eligible for a non-refundable tax offset that is at least 8.5% above your company tax rate (and increases the more R&D intensive your company is).
In addition, the company must be either:
- incorporated in Australia
- incorporated in another country but be an Australian resident for tax purposes, or
- incorporated in a country with which Australia has a double tax agreement, and undertake R&D activities through a permanent establishment in Australia.
Trusts are generally not eligible – except if they are a public trading trust with a corporation acting as a trustee. Companies that are exempt from tax are also not eligible.
Do I need to register for the R&D Tax Incentive?
Yes, to claim a tax offset under the R&D Tax Incentive program, you must register your R&D activities with AusIndustry within 10 months of the end of the income year in which they were undertaken.
How do I know when an R&D claim has been approved?
Like your income tax, the R&D Tax Incentive is a self-assessment program. As long as your company has lodged its annual registration and can substantiate its eligibility and entitlement, you can claim the tax offset as part of your income tax return. If you require certainty about your eligibility and entitlement, you can apply for an Advance Finding prior to registration.
What’s the minimum R&D spend to be able to claim?
To claim the tax offset, your total R&D spend for the income year must be at least $20,000. There are some minor exceptions to this.
Is there a limit to the amount of benefit I can claim?
A company group can claim up to $150 million of eligible R&D expenditure per annum.
When can expenditure on R&D activities conducted overseas be included in a claim?
To claim expenditure on an activity conducted overseas, you must first obtain an Advanced/Overseas Finding. This is a separate application that needs to be submitted prior to the end of the first income year in which the overseas activities are conducted. In this submission you need to demonstrate that the activity meets the eligibility criteria and also meets the additional requirements for eligible overseas activities. MJA can advise whether you meet this additional requirement.
If you have further questions about the R&D Tax Incentive, please contact MJA.
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