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Can you benefit from the R&D Tax Incentive program?
Are you the owner of a small to medium-sized business and have come up with an innovative solution to one more problem in your business?
Have you developed a new product feature or design, or have you developed a new process or manufacturing method that is new in your industry?
You may be doing R&D that is eligible for the R&D Tax Incentive and not even know it. Perhaps you have heard about the R&D Tax Incentive program, but don’t know how to access it.
If you are a small business (turnover < $20M), then you could be entitled to a tax refund or credit of up to 43.5% of your R&D expenditure. See R&D Tax Incentive changes in 2020/2021 Budget.
TechAbstract was born from the company’s director Jamie Collins time at AusIndustry as a field auditor of the then R&D Tax Concession and the knowledge gained a decade ago coupled with STEM substance has produced
You are the owner, Chief Executive Officer, Chief Technical Officer, Chief Operating Officer or the Chief Financial Officer in a small to medium-sized business. You could even be the accountant for this business.
Forget about R&D stereotypes – you don’t need to be a high-tech company to be doing eligible R&D. Many small businesses do R&D and don’t even realise it.
You could be baking bread, making chocolates or developing innovative software applications. You just need to have worked out a creative new solution to a problem in your business. See Who can claim the R&D Tax Incentive and R&D Tax Incentive – what is it?
Sound like you? Contact TechAbstract R&D Tax Incentive today for a complimentary assessment.
We have now employed Jamie Collins and Ian Combes from TechAbstract. They have exhibited a deep understanding of the AusIndustry requirements and have been able to describe our research in terms that AusIndustry can relate to. I highly recommend TechAbstract.
Why use an R&D Tax Incentive specialist?
An R&D Tax Incentive consultant will have an intimate knowledge of the R&D Tax Incentive requirements and can ensure that your application is fully compliant (See R&D Tax Incentive – eligibility) whilst ensuring that you claim all the eligible R&D activities that you are entitled to.
As with other government assistance programs, there is documentation that must be prepared for both the AusIndustry and the ATO R&D Tax Incentive applications.
An R&D Tax Incentive consultant can prepare both AusIndustry and ATO applications, demonstrating your compliance while minimizing your time requirements.
The best thing you can do is discuss your R&D with an R&D Tax Incentive consultant. It costs nothing and will answer all your questions.
However, if you are keen to know more about the R&D Tax Incentive before you talk to a consultant, there are a variety of resources available on the AusIndustry website (see Offset your R&D costs to help innovate and grow your business) and here on TechAbstract webpage that explains:
- What the R&D Tax Incentive is, and how it works
- Who can claim the R&D Tax Incentive, what you can claim, and how much you can claim.
- How to identify the right R&D Tax Incentive consultant for you
- How to get started with the R&D Tax Incentive
There is also an extensive blog page and an extensive FAQ, so feel free to browse.
How TechAbstract can help
Why engage TechAbstract? Tech Abstract is a specialist in the R&D Tax Incentive – it is all we do, so we are very good at it.
If you engage TechAbstract, we will ‘dive’ into your R&D activities and extract all your R&D activities that are eligible under the R&D Tax Incentive.
- We know that your time is valuable and that you want to minimize your time commitment as much as possible.
- We also know that you want to claim as much of your R&D as you can
- However, you also want to be confident that your application is not only eligible and fully compliant but also readily assessable as such by AusIndustry.
Once we have registered your R&D activities with AusIndustry, we will work with you and your accountant to identify all eligible expenses related to the claimed R&D activities and file the R&D Tax Schedule with the Australian Taxation office.
R&D Tax Incentive Case Studies
TechAbstract has overseen over 400 successful applications for many Australian businesses. Check out some of our case studies to gain a better insight into some of the clients we have helped.
Industries we service
TechAbstract has clients in the following industries:
Food & beverage
Building & construction
Need assistance with your R&D Tax Incentive application?
Speak to the expert team at TechAbstract today