April 2014 Lodgement Deadline for your Research and Development
As the cut-off for lodgement of R&D Tax claims approaches,
companies should now be turning their focus to the preparation and
registration of their R&D tax incentive claim for 2013.
Registration of claims for the R&D tax incentive can take
place up to 10 months after the financial year in which the R&D
activities took place. For companies looking to claim for the 2013
FY (ending 30 June 2013), lodgement can take place up to 30th April
Are your current business activities eligible for the R&D
Australian businesses that innovate are twice as likely to boost
their productivity, 2.5 times more likely to increase staff, 4
times more likely to increase their range of goods or services
offered, 3 times more likely to export and 18 times more likely to
increase the number of overseas markets targeted.ą
Many businesses are missing out on government incentives for
formal and informal research and development (R&D) through a
lack of planning and effective process management.
The R&D Tax Incentive is a government initiative that
provides easy to access support to help businesses undertake
R&D activities and develop:
New knowledge; and/or
New or improved products, devices, materials, services and/or
What is the R&D Tax Incentive?
The R&D Tax Incentive is the Australian Government's
principal measure to encourage industry investment in research and
development. It is a broad-based, market-driven tax offset program
that aims to boost company competitiveness, improve productivity
and deliver economy-wide benefits to Australia.
The program is available across a broad across a range of
sectors, including agriculture, biotechnology, manufacturing,
mining and ICT.
The R&D Tax Incentive provides generous benefits for
eligible R&D activities. The two components of the program
A 45% refundable tax offset (equivalent to a 15c in the dollar
benefit) for eligible entities with an aggregated turnover of less
than $20 million per annum; or
A non-refundable 40% tax offset (equivalent to a 10c in the
dollar benefit) for all other eligible entities.
The R&D Tax Incentive is jointly administered by AusIndustry
(on behalf of Innovation Australia) and the Australian Taxation
Office (ATO). Innovation Australia is primarily responsible for
administering the technical eligibility and registration of R&D
How we can help you?
Moore Stephens and the Impact Innovation Group have combined to
provide a comprehensive framework aimed at assisting your business
R&D strategy - defining how your R&D outcomes will
drive competitive advantage.
R&D planning and tools - to maximise the impact of your
formal and informal R&D activities.
R&D linkages - facilitating partnerships and collaborations
including linkages with Australia's leading research
Eligibility assessment advice – to determine the
eligibility of your company and its R&D activities for the
R&D Tax Incentive program.
Claim preparation advice and assistance – to ensure your
company's R&D Tax Incentive claim potential is
Program registration – registration of R&D activities
with AusIndustry so that your business can claim the R&D Tax
Incentive through its annual tax return with the ATO.
Record keeping and compliance assistance – to augment
your claim potential and ensure that sound, contemporaneous record
keeping practices are adopted to demonstrate the claim eligibility
Why choose Moore Stephens and the Impact Innovation Group?
Companies have the potential to gain significant advantage from
well structured R&D activities, including the realisation of
tax offset opportunities.
Together, the Impact Innovation Group and Moore Stephens
Queensland can provide your business with the technical and
accounting expertise required to develop your 'next
generation' of competitiveness and ensure you maximise your
R&D Tax Incentive claim to fund this critical phase of business
The income tax treatment of any property lease incentive will vary, depending on the nature of the inducement provided.
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