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Benefits of R&D Tax Claims
There are 3 key reasons you should be making R&D tax claims:
1) Cashflow
The R&D Tax Incentive pays up to 43.5% of your annual eligible R&D expenditure as cash back to your business either as a direct refund or as reduced tax payable. Many businesses use this funding every year to help grow their businesses.
2) Non Competitive Project Funding
The R&D Tax Incentive is not a competitive grant program and companies can continue to make claims each year they have eligible R&D activities. This helps provide certainty when planning for projects and business growth.
3) Business Autonomy Over Projects
The R&D Tax Incentive is a market driven program that allows companies complete autonomy in choosing which projects to invest their R&D funds in. Companies have the flexibility to make changes to R&D projects without Government input and can continue to make R&D claims when eligibility criteria are met.
Not sure how much you could get back? A quick chat with an R&D consultant can guide you on the amount of benefit your company may be entitled to. Email [email protected] to speak to a consultant today.
