If your business is engaged in research and development (R&D) you might be eligible to claim a tax offset under the R&D tax incentive.
The R&D Tax Incentive can deliver sizeable tax savings and even refunds of up to 43.5% of your R&D expenditure, where the company is in a tax loss situation.
By using the R&D Tax Incentive, a company with a group turnover of less than $20 million which spends $1 million on R&D in a given year could:

  • Obtain a refund of up to $435,000, or
  • Reduce company tax by $160,000 (where the company is in a tax paying position)

Administered jointly by the Australian Tax Office (ATO) and AusIndustry, the R&D Tax Incentive is Australia’s largest industry incentive assisting nearly 10,000 companies per annum but remains underutilised; mainly due to a lack of eligibility or implementation knowledge.

“Claiming R&D Tax Incentives is not complex and is a self-assessment, rules based program. At William Buck, we deliver you the knowledge, tools and support.”

Operating as a rules based, self-assessment program, applying for the R&D Tax Incentive need not be difficult. In fact, the new rules surrounding eligibility are designed to increase industry participation in this valuable program.
Our specialist tax team offers a range of R&D Tax Incentive compliance services that range from tailored expert advice through to use of collaborative, online project, knowledge and record keeping management systems.
Our service is designed to augment and support your existing skills and knowledge, recognising that the new R&D Tax Incentives rules mandate the need for applicants to take greater control of project and knowledge management to maintain compliance.

Tax >

All the Latest From Our Team

Sell your property now, or risk a big tax bill

Posted By William Buck News on 05/02/2019 10:25:14 pm

Do you live overseas and own a house in Australia? If so, you may have less than five months to act before you’re stuck with…

Read More
Impact of digital tax policies on Australian technology companies

Posted By William Buck News on 15/01/2019 03:01:10 am

As digital services businesses continue to replace bricks-and-mortar retailers, many governments are grappling with how they can collect their share of tax from these businesses’…

Read More
Mid-tier encourages ‘fence sitters’ to innovate

Posted By William Buck News on 13/12/2018 03:01:11 am

Commentary from Dr. Rita Choueiri, Principal of Research and Development Services and Jack Qi, Tax Director. R&D tax experts say tech companies shouldn’t be deterred by…

Read More
Employee Share Schemes for SMEs

Posted By William Buck News on 13/11/2018 08:01:23 am

Overview Employee share schemes have been around for some time now but have become more prevalent of late in Australia, especially with the introduction of…

Read More