I’ve heard a bit about the R&D tax credit – it seems like a decent scheme but how can I take advantage of it? How do I know if my innovation actually qualifies as R&D?
The federal government introduced the Research and Development (R&D) Tax Incentive regime in a bid to encourage industry investment in R&D and innovation.
The scheme is administered jointly by AusIndustry (on behalf of Innovation Australia) and the Tax Office. The R&D tax incentive provides a tax offset to eligible companies that engage in R&D activities.