Reminder: AusIndustry R&D deadline: 30 April

March 2014

The deadline to register with AusIndustry for the R&D Tax Incentive ends on 30 April.

The tax incentive is there to help businesses offset some of the costs of doing R&D. The program is open to businesses of all sizes in all sectors that undertake eligible R&D. If your business activities are eligible, the offset can be a huge benefit, offering:

a 45% refundable tax offset (equivalent to a 150% deduction) to eligible entities with an aggregated turnover of less than $20m pa; or
a non-refundable 40% tax offset (equivalent to 133% deduction) to all other eligible entities.

If you are uncertain whether your business would qualify for the R&D Tax Incentive, contact us today. You can also download our R&D Grant Factsheet for more information.

For more information about planning your tax, please contact us on 02 9957 4033 or via our contact form.

Want to keep up to date with tax news for small business? Follow batescosgraveCA on Linkedin, Google+ or Twitter

Last updated March 2014. This article is provided for information purposes only and should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.

Follow Bates Cosgrave on Linkedin, Facebook or Twitter

Disclaimer

This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.