Maxim Private Advisory

The Research and Development Tax Incentive (R&D Tax Incentive or R&DTI) encourages companies to engage in R&D that benefits the Australian economy by providing a tax offset in relation to expenses incurred for eligible R&D activities.

What is the benefit?

Eligible companies can receive an income tax benefit to offset some of the costs of their eligible R&D activities. This benefit can be paid as a cash refund to a company with turnover of less than $20million, depending on their tax position, or if the company’s turnover exceeds $20million, the benefit is a non-refundable tax offset that is credited to the company’s income tax account.

Who is eligible?

To be eligible a company must undertake eligible R&D activities in Australia, which includes having at least one activity that meets the definition of a core R&D activity, and incur the annual minimum eligible R&D expenditure (currently $20,000).

How can we help?

• R & D Eligibility Assessment
• R & D Claim preparation and lodgement
• ATO Audit assistance