Ellco Group - Accountants & Advisors

Research & Development

You may not know it, but in your business you are research and developing all the time! It is often well into the research stage before you realise that you are actually undertaking a Research and Development (R&D) activity.

It is important to understand when you are conducting an R&D activity and whether any tax incentives are available to you.

Under current rules, the ATO R&D Tax Incentives available are as follows:

If... Then...
Both of the following apply:
  • You are not controlled by one or more exempt entities
  • Your aggregated turnover is less than $20 million
You can claim the 45% refundable tax offset
One or more of the following apply:
  • You are controlled by one or more exempt entities
  • Your aggregated turnover is $20 million or more
You can claim the 40% non-refundable tax offset

The basic requirements of receiving any government tax incentives include: For more specialist advice, Ellco Group work closely with Stuart Hazell from Fusidium Pty Ltd. Stuart has over 35 years experience in research, consulting and senior management and is available to advise you in all aspects of planning your research as well as applying for grants and tax incentives.

Once the year is over, Ellco Group will then assist with preparation of your Company Tax Return to ensure any R&D tax incentives are included and credited to your Company.



Share this: