If your company spent at least $20,000 on eligible R&D in 2024–25, you may qualify for a tax offset of up to 43.5% through the R&D Tax Incentive. The program supports businesses developing new or improved products, processes, or technologies where the outcome was genuinely uncertain.
WHO IS ELIGIBLE?
Companies who are:
Companies who are:
- Incorporated in Australia, or
- Incorporated offshore but an Australian income tax resident, or
- Incorporated offshore in a country with which Australia has a double tax agreement, and carrying on business in Australia through a permanent establishment.
TO QUALIFY, YOUR R&D ACTIVITIES MUST:
- Aims to create new or improved products, processes, or technology
- Resolves technical uncertainty that could not be solved using existing knowledge
- Uses a systematic approach to experimentation
REFUNDABLE CASH BENEFIT
- Companies with turnovers of less than $20 mill may be eligible to receive a refundable tax offset, meaning you could receive a direct cash payment, not just a reduction in tax.
DON’T MISS THE DEADLINE
Registration for the 2024–25 year closes on 30 April. Missing this deadline may mean waiting another year to claim.
If you’re unsure whether your activities qualify, we can assess your eligibility and guide you through the process.
Contact us today to confirm your eligibility and ensure you don’t miss out. To book a free 15 minute consultation click here.