RESEARCH & DEVELOPMENT TAX CONCESSION

Eligible businesses that qualify for the concession can receive refundable benefits form the ATO.

For example, a mining exploration company has incurred expenditure on a project to determine whether, with enhanced processing techniques, ore dumps could be concentrated economically.

Eligible costs were:

$50,000 Lab testwork

$25,000 Process design

$25,000 Flowsheet development

$50,000 Eligible pilot plant costs

$80,000 Overheads

$230,000 Total Costs

ATO R&D Offset (refund) $86,250

To access the R&D Tax Concession benefit (including the cash refund), a number of criteria must be met.

To determine whether your Company and Project are eligible, please contact us to discuss.