The R&D Tax Incentive is government funding via your company tax return. It is used to fund innovation within Australian businesses, whether it’s a new product development, operation process efficiencies or enhancing your existing products.
It is a very generous rebate that helps you conduct more R&D, but it can be complex to administer and ensure you are maximising the benefits. Companies are required by AusIndustry and the Australian Taxation Office (ATO) to have systems and processes in place to identify, evaluate effectively, and record eligible R&D activities and related expenditures.
So, you need to align your R&D Processes with the legislation to include the required documentation, you might like to refer to our R&D Process Optimisation eBook.
Our Diagnostic & Strategy Training Online Course can help you diagnose your current R&D process and process record-keeping. We will introduce our 6-step process framework to you and help you identify the best way to optimise your R&D process record-keeping.