Did you know you may be eligible for Cash refunds for expenditure on R&D activities?
R&D is not just for the big end of town. Whether 'tinkering' in the shed, redesigning machines, chasing efficiency, function or developing a product your business you may be entitled to cash refunds via your tax return. If there is new knowledge involved you may be eligible. For example, an entity with $20,000 eligible R&D spend "might" get a cash refund of $9,000*. This may be essential cash to keep the project running and meet return on investment criteria.
But you need to act now as annual registration of R&D activities and for the year ended 30 June 2014 must be lodged by 30 April 2015. We can help you with both assessing eligibility, registering, required documentation and calculation of the claim. If you have already lodge your 2014 tax return don't delay as you only have limited time to make any amendment for your R&D claim.
Don't hesitate to discuss with your regular Moore Stephens
contact to discuss eligibility.
*simplified example, company in loss position, subject to
strict eligibility and registration criteria
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