Startups and Scaleups: R&D Tax Incentive Deadline of 30 April 2020 is fast approaching

startups-and-scaleups-rnd-application

Want to apply for the R&D Tax Incentive? There is no better time than now! 

A gentle reminder for companies with 30 June 2019 financial year end who plan to register for R&D Tax Incentive program, the deadline of 30 April 2020 is fast approaching.

We would encourage companies to chat with Azure Group as soon as possible to discuss eligibility and record-keeping requirements for the program. Our team comprises a group of specialists with accounting and engineering backgrounds who have continuously achieved the highest success rate in claiming the R&D Tax Incentive.

R&D TAX INCENTIVE FY2019 DEADLINE EXTENDED DUE TO CORONAVIRUS


What is an R&D Tax Incentive?
R&D Tax Incentive is a program managed by the Department of Industry, Innovation and Science and the Australian Taxation Office (ATO) which encourages companies to engage in research and development (R&D) activities benefiting Australia. This incentive is available to companies in startup and scaleup phase who undertake R&D activities.

What is the benefit?
If you are developing a new product or process and validate your ideas through experimental activities, you might get up to 43.5% of your development costs which you can use to re-invest on your R&D.

Want to know more?

Azure Group has published a series of blogs about the R&D Tax Incentive, where we explored 5 common misconceptions about R&D, topping it off with a downloadable booklet to keep on hand when you are exploring R&D. We have dived deeper into satisfying the different eligibility tests  of R&D Tax Incentive legislation using real-world examples to cut through the confusion on whether your business is eligible or not.  

DOWNLOAD R&D BOOKLET HERE

 

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Government Grants and Incentives: Which one is right for my Business?

About Author

Azure Group
Azure Group

Azure Group is the leading Chartered Accounting, Business Advisory and Strategic Advisory firm supporting the growth & success of fast growing entrepreneurial businesses.

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