On 1 July 2012 the Government introduced the R&D Tax Incentive which provides more generous support for businesses than the R&D Tax Concession that was replaced. Under this new legislation, more businesses are eligible to claim generous support that is aimed at increasing innovation and creativity within Australian companies.

The two main elements of the legislation include:

  • A 45% refundable tax offset to eligible entities with an aggregated turnover of less than $20 million per annum.
  • A non-refundable 40% tax offset to all other eligible entities.

The team at Dixon and Doshi is ready to discuss with you about the possibility of a R & D claim for your business.

Call or make an appointment to find out more on this.