Do you have eligible R&D that you can claim?
Are you 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 – scientists in white coats working in a laboratory. You don’t even need to be a high-tech company to be doing eligible R&D. In today’s competitive business environment even small businesses need to innovate to find that competitive edge. You could be baking bread, making chocolates or developing innovative software applications.
- Have you developed a new product, service, material, device or process with a unique twist?
- Have you cracked a problem that is well-known in your industry?
- Have you just ‘tried’ something and have achieved a surprising result that improved your product, process or service?
- Do you experiment with new ways of doing things that improve your product, service or process?
- Have you licensed new technology and it trialled in your business, but needed to solve issues fitting it in?
- Have you engaged an outside contractor to solve problems for you?
R&D can take place in the most unexpected of places. You may not even think of it as R&D – to you, it is just a problem you needed a solution to. As long as you needed an experiment to test your theory and find the answer to your problem, you could have eligible R&D that you can claim under the R&D Tax Incentive.
Sound like you?
Contact TechAbstract R&D Tax Incentive today for a complimentary assessment!