Don’t miss the upcoming R&D Tax Application Deadline – 30 April 2025!

Matt White, Director - RD Tax + Grants

With April being a short month and packed full of public holidays, those that have not yet lodged their FY2024 R&D Tax Incentive Applications need to move now to ensure they meet the 30 April 2025 Application deadline.

 The R&D Tax Incentive is the Federal Governments principal program designed to incentivise Australian companies to develop new or improved products, processes or services in Australia.

 Depending on your Companies turnover, up to 43.5% refundable tax offset may be available for salaries and wages, contract fees, overheads (such as rent, running cost etc) and direct costs associated with undertaking eligible R&D activities.

 
Overseas activities and registration of multi-year programs can also be made to provide confidence around your companies R&D expenditure via Advanced Findings.

The R&D Tax Incentive is a broad-based program designed to assist companies operating across all industry sectors from software, agriculture, energy, agrifood, biotechnology, manufacturing, mining and resources to marine and defence and more.

The program is a self-assessed regime with various eligibility criteria that need to be met where records and documentation need to be kept to evidence your companies R&D - a fundamental requirement to access the program.

To better support applicants and to ensure a robust compliance regime, both AusIndustry and the Australian Taxation Office (ATO) have recently released new guidance material to assist all applicants as well as those operating in specific industry sectors.

Often understanding the eligibility and compliance requirements as they relate to your business activities in context to how they are being applied can be challenging. Seeking early engagement with AusIndustry or engaging an R&D Tax Expert can be beneficial to better understand eligibility and compliance requirements  in making an R&D claim.

RD Tax + Grants have almost 20 years’ experience in R&D Tax Incentives and have assisted business of all sizes operating in most industries.

We can assist in:

•   Identifying eligible R&D activities and expenditure
•   Assist you in preparing R&D claims
•   Help you understand the compliance requirements.
•   Identify and apply for other government grant funding

If you’d like assistance in meeting the 30 April 2025 deadline or you wish to discuss how your business can benefit from the R&D Tax Incentive. Please do not hesitate to contact us at:
e: office@rdtaxandgrants.com.au | ph:0404 491 524 | 
w:www.rdtaxandgrants.com.au