Indirect Tax Consulting provides advice and services in relation to Research and Development (R&D) tax incentives and other Government assistance programs to assist our clients. We are able to provide specialist advice and support tailored to the needs of our clients in the preparation, development and management of applications for the full range of Technology Incentives. Our goal is to streamline compliance requirements and make the process as uncomplicated and painfree as possible, whilst maximizing the benefits available. The Federal Government has maintained a commitment since 1985 to provide incentives via the Australian Taxation system to encourage Australian innovation and Research and Development (“R&D” ) activities. As part of the tax system, it is a self assessment scheme whereby when eligibility is met, the benefit is gained (unlike competitive grant programs that are limited to program funds availability and committee review).

Legislation for the new R&D Tax Incentive gained Royal Assent on 8 September 2011. The new provisions will replace the R&D Tax Concession for income years commencing on or after 1 July 2011.

Depending on Company circumstances, the R&D Tax Incentive will provide either a 45% refundable R&D Tax Offset or a 40% non-refundable R&D Tax Offset for eligible research & development activities.

Two step Process

1. Lodgement of Project Registration (strict deadline applies)

2. Provision of expenditure claim to the ATO (via tax return, or as an amendment).