TechAbstract is a valuable partner for you to have when managing your R&D Tax Incentive (R&DTI) application. Although it might appear that R&DTI applications are simple enough – appearances are deceptive (see Using an R&D Tax Incentive consultant), so you need an R&DTI specialist on your side. Tech Abstract only provides services for the R&D Tax Incentive, so we have become very good at it.
- TechAbstract is a registered tax advisor.
- All members of TechAbstract have STEM (Science, Technology, Engineering, Math) qualifications.
- All members of TechAbstract have industry R&D experience, covering a range of industries.
- We are expert on explaining complex technical concepts in simple terms – important for AusIndustry applications.
- TechAbstract has well over 300 successful R&DTI applications.
- TechAbstract has only had a small number of AusIndustry reviews – all successfully resolved.
- TechAbstract keeps a very close watch on changes in R&DTI legislation.
- TechAbstract is a regular participant in the NSW AusIndustry/ATO State Reference Group.
- The director of TechAbstract (Jamie Collins) has previously worked for AusIndustry as a field auditor.
TechAbstract is uniquely positioned to be aware of the range of mistakes that can be made by applicants with their R&D Tax Incentive applications, having been involved in every role in the R&D Tax Incentive process at one time or another – in AusIndustry, in R&D in Industry and as an R&D Tax Incentive consultancy.
TechAbstract are not only experts in the requirements of the R&DTI, but we are proactive in ensuring that there are no issues with our clients’ R&DTI applications. This level of care covers both the AusIndustry technical application and the ATO Tax Schedule application.
Most Tax Incentive consultants can be expected to take adequate care with the ATO Tax Schedule. Rather fewer do a quality job on the technical AusIndustry R&DTI submission. Therein lies the problem – the AusIndustry application needs to be accepted before the ATO Tax Schedule is required. Many R&DTI applications fail at the AusIndustry technical hurdle due to a lack of care or skill or technical knowledge. Never accept an explanation along the lines of “the AusIndustry technical narrative doesn’t matter” – it does.
TechAbstract is unique
Why TechAbstract? Because TechAbstract is unique in the industry:
- We have experience within AusIndustry, so we’ve seen a lot of mistakes made both by applicants and their R&D Tax Incentive consultants.
- We have extensive prior experience in R&D across a range of industries. We have strong technical skills and STEM qualifications, so we have a good understanding of what R&D is and isn’t.
- We have prior experience being on the other side of the fence – dealing with other R&D Tax Incentive consultants when submitting Tax Incentive applications on behalf of R&D organisations during our time in Industry.
- TechAbstract (through our TechCheck subsidiary) has also had considerable recent experience helping new clients respond to AusIndustry reviews which were triggered by (very) poor work by other R&D Tax Incentive consultants who have abandoned the clients during these reviews.
Before you engage TechAbstract, we will sit down with you and carefully explain the process we follow when preparing your Tax Incentive application.
Please see The TechAbstract Process for an explanation of our process, the service we offer, what you can expect from, and what we expect from you.