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What is the R&D Tax Incentive?

The R&D Tax Incentive is the largest single program in Australia to help business undertaking research and development. Over $2.9 billion is awarded annually and it is not competitive – that is, if you are eligible then you are entitled to it. You could be entitled to get 43.5% back on your R&D spend.

The definition is purposefully broad in order to support R&D across many different business and industry sectors. That means it’s not just about white coats and laboratory work. We have assisted business in manufacturing, IT, biotechnology and pharmacology, agriculture and much more to access this program.

The R&D Tax Incentive provides eligible entities with a tax offset for expenditure on eligible R&D activities and for the decline in value of depreciating assets used for those activities.

The objectives of the R&D Tax Incentive program are to provide a tax offset to make companies more competitive and improve productivity across the Australian economy by:

  • Encouraging industry to conduct R&D that may not otherwise have been conducted.
  • Providing business with more predictable, less complex support.
  • Improving the incentive for smaller firms to engage in R&D.

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