Services
R&D, Start up and Export Market Development (EMDG)
State and Federal Governments provide in excess of $2 Billion in assistance to Small and Medium sized businesses each year. AD & Co have a track record of assisting start up and established businesses secure assistance via Ausindustry's R&D Tax incentive and Austrade's Export Market Development Grant.
R&D Tax Incentive
Jointly administered by Ausindustry and the Australian Taxation Office (ATO), the R&D
Tax Incentive assists Australian companies with the costs of performing R&D related projects within Australia.
Benefits of the R&D Tax Incentive
The Incentive allows;
- 45% refundable tax credit for entities with under $20million in grouped turnover and a,
- 40% non-refundable tax credit for companies with greater than $20million in grouped turnover
The size of the credit is based on identified expenditure from R&D related activities during a given financial year.
What is the process?
Applying for the credit is a two-step process;
1. An Ausindustry R&D registration form is submitted electronically with Ausindustry- This form details the activities and qualitative information of R&D project(s)
Upon successful processing, Ausindustry will issue a R&D registration number.
2. The R&D schedule to be included within the company's tax return is compiled and includes Ausindustry's registration number.
Once the company’s tax return is lodged the ATO will issue any refund due in approximately two to four weeks.
Overseas company’s investing in Australia
Australian companies who are subsidiaries of overseas entities investing in Australian based R&D projects are also eligible for the R&D tax incentive.
R&D related costs incurred by Australian based subsidiary, that are funded by the overseas holding company are eligible for inclusion within the company’s R&D Tax claim.
Advanced Findings
Companies who look to undertake overseas R&D expenditure, or would like a level of certainty that activities being undertaken satisfy Ausindustry’s R&D eligibility criteria can apply for an advanced finding.
Advanced findings are submitted to Ausindustry prior to the end of a financial year and are largely submitted for two reasons;
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Approved advanced findings provide piece of mind that activities a company is undertaking (or planning to undertake) are in fact eligible R&D activities.
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Advanced Overseas findings also allow companies to seek approval on planned or incurred international R&D related expenditure.
Export Market Development Grant (EMDG)
Export Market Development Grant encourages and assists small to medium businesses with the cost of doing business internationally. EMDG reimburses businesses up to 50% of eligible export promotion expenses above $5,000, provided that the total expenses are at least $15,000.
An applicant can claim up to 8 grants in it is life time and the grant is currently capped at $150,000 per applicant in a given year.