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R&D Tax Incentive

From 1st July 2011, the Australian Government’s R&D Tax Incentive replaced the previous R&D Tax Concession.

The two components of the program are:

  • a 43.5 per cent refundable tax offset for eligible companies with an aggregated turnover of less than $20 million per annum; or
  • a non-refundable 38.5 per cent tax offset for all other eligible companies.

The R&D Tax Incentive is jointly administered by AusIndustry (on behalf of the Innovation Science Australia Board) and the Australian Taxation Office.

MJA can help you obtain optimal benefits from the R&D Tax Incentive and satisfy the associated compliance requirements.

For example, we can work with you to:

  • Identify which of your company’s R&D activities and costs are eligible
  • Apply for an Advance Finding to determine whether certain R&D activities are eligible prior to registration or apply for an Overseas Finding to claim eligible work conducted outside Australia
  • Determine how much you should claim, taking account of your individual tax risk appetite
  • Prepare your annual claim including registration and R&D tax schedule
  • Establish internal systems and processes to make compliance easy and ensure you can support your claim in case of audit
  • Assist with any external audits and reviews to satisfy ATO and AusIndustry requirements

Contact us to find out more about the potential for your company to benefit from the R&D Tax Incentive and how MJA can help you.


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