OPTIMISE R&D PROCESSES FOR MAXIMUM R&D Tax Incentive BENEFITS
Increase the amount you claim from your R&D Tax Incentive Claim and make it easy and quick to complete the necessary support documentation for your claim.
More than 70% of businesses that could claim under the R&D Tax Incentive scheme are not because they did not realise that their work would qualify.
Maximising the benefits
Most businesses claiming under the R&D Tax Incentive scheme are underclaiming by 30% – 60% and it is not their accountant’s fault.
The R&D Tax Incentive is government funding via your company tax return. It is used to fund innovation within Australian businesses, whether it is new product development, process efficiencies or enhancing your existing products.
Your tax claim prepared by your accountant can only claim for the items that you have the supporting documented process and paperwork. This is where most businesses under claim. Their records are either:
- Incomplete – so there are components of your work that is not being claim eg. staff involved but not in the project team.
- Insufficient detail to make them compliant so must be excluded from the claim (or risk a fine if audited).
R&D Process Optimisation
The R&D Tax Incentive requires documented evidence that you conducted the R&D in a systematic and scientific manner.
We have proven that the best way to ensure that the R&D is conducted properly is to integrate the required record keeping into the way you undertake the R&D. It is important to optimise your R&D processes so that your staff undertake the required steps without having to consider whether they are required by the R&D Tax Incentive, they are just best practice.
After all the legislation calls for a best practice R&D methodology so why not adhere to it and reap the benefits of well thought out R&D that also maximises the Tax benefits.
the R&D Tax Incentive Process Framework
We have developed Process Framework that when implemented in your R&D process will achieve a level of optimisation that will mean you will reap the maximum benefits from the R&D Tax Incentive.
We believe it is not about changing the way you conduct the R&D, but rather to ensure all aspected necessary are documented and captured reliably for all your projects.
On average, businesses that use our 6-step framework increase their claims by 30-60% while significantly reducing potential AusIndustry and ATO Audit issues.
Key Benefits of Process Optimisation
Foster innovation in your business
- Implement consistent and repeatable best practice R&D Processes
- Avoid being one of the 70% of eligible business that don’t claim
- Conduct more R&D with less hassle and greater teamwork
Straight forward R&D record-keeping
- Reduce the complexity and red tape of record-keeping
- Substantiate more expenses and increase your claim 30-50% on average
- Be one of the eligible businesses that are accessing benefits
- Implement systems to avoid the annual records headache
- Reduce the time and cost to prepare your claim
Oversight to stay on track
- R&D Process Manual for staff training and awareness
- Oversight and governance to keep you on track
- Done-for-you documentation to
R&D Tax Incentive Process Training and templates
We offer multiple ways to assist you with optimising your R&D Processes
- Instructor-Led – Done for you optimisation and achieves consistency though an R&D Manual (Refer to our Process Framework ebook above)
- Online Training courses that include Template Packs to give your team a head start
- Template packs that include a User Manual for the templates and comprehensive templates with embedded instructions to guide you
- Once trained and optimised we can keep you on track
- Periodic Audits and Compliance checks
- Monthly coaching and governance options
- Audit Preparation Assistance in the event of an audit we can help insure you will achieve the best outcome possible.
Relates Blogs Posts
Use the R&D Tax Incentive Implementation Checklist
- Use to check if have all the right records in place to fully claim under the grant.
(This is the #1 reason for under-claiming because your accountant can’t claim what you can’t support with the right paperwork)
- Find out how much more you could be claiming.
(After you complete the checklist you have the option to send through to our R&D TI Consultants. They will be able to provide an indication of where you are missing out on claiming by what paperwork is missing – and they would be happy to talk through how you make it simple to implement the missing components).
Please complete the information below and we will send off immediately.
What Our Customers Have to Say
George has systematized his successful process for maintaining compliance records into a framework that was easy for us to adapt and apply to our way of working.
With plenty of high profile businesses being audited and found coming up short due to record keeping, we are now sleeping easy that we will not be one of them.
1. Is the R&D tax incentive for your Business?
2. Getting started with the R&D Tax Incentive
Find out what you will need to get started under the R&D Tax Incentive to avoid problems down the track.
YOU ARE HERE
3. Increasing your Annual R&D Tax Incentive Claim
Maximise the benefits of the R&D Tax Incentive with our Process Framework and templates.
Rescue in-house bespoke applications to keep your business operations streamlined.
Did your tax Consultant ask you to ensure you Keep all the right records?
Learn what records, their format and wording you need to substantiate and maximise your claim.