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Cash for your clients: R & D tax concession & government grants

Published on 15 Nov 2007 | Took place at Sebel Playford Adelaide, SA

Each business needs a point of difference. Often that difference will be a new product or a new process. Sometimes, discovering the new product or process will involve years of experimenting - the business will need to be innovative or may need to solve a technical risk before they achieve success. Even when success is achieved, they may need extra cash to see their dreams become reality. This session explored the Research & Development tax concession and the various government grants available to help your client access these benefits.

The R & D tax concession is an entitlement. It is not limited to big business employing ‘white coats’ in testing laboratories. You may be surprised to hear of the types of projects that may qualify for the R & D concession. For example, did you know that one of the biggest claimants of the R & D concession is the banking industry? Maybe your client is also entitled to the R & D concession?

There are also a number of government grants available to help businesses grow - to commercialise a technology or to find a new market. Many of these grants are competitive and it is critical to understand the eligibility criteria for each grant to maximise your client’s chances of successfully receiving the funding.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Government grants

Author(s):  Anthony PETRILLI

Governments want businesses to succeed. To encourage businesses to fulfil their potential, government provides a number of grants, many of which are competitive. This presentation discusses the eligibility criteria for a number of grants relevant to SMEs including:

  • commercial ready grants
  • renewable energy development initiative
  • food innovation grant
  • export market development grant.
Materials from this session:

Research and development tax concession

Author(s):  Tony BELFIELD

The R & D journey to market can be long and costly for companies investing in innovation. However, the R & D Tax Concession provides opportunities for these innovators to mitigate the costs by claiming tax incentives. Accelerated deductions of 125% for eligible expenditure, a tailored program for small business (R & D Tax Offset) and the ability to apply for a 175% premium tax concession after satisfying specific eligibility criteria form the basis of the incentive to innovate. Topics covered in this paper include:

  • financial benefits of R & D Tax Concessions (or R & D Tax Offset)
  • key eligibility criteria
  • obvious and difficult R & D case studies
  • implications for self-assessment (ATO / AusIndustry).
Materials from this session: