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Innovation Incentives: The R&D Tax Concession & Government Grants

Published on 08 May 2008 | Took place at City West Function Centre, Perth, WA

To remain competitive, businesses need to develop new products and improve processes - innovation is the key. Australia’s Research and Development (“R&D”) Tax Concession and grants programmes provide additional tax deductions and funding to assist companies to innovate.

This session explored the R&D Tax Concession and the various government grants available to help your clients, and provide some practical advice on assisting your clients in accessing these benefits.

The R&D Tax Concession is designed to encourage companies to perform R&D activities, including development activities outside of the lab. Claimants come from a range of industries including minerals, manufacturing, agri-business, IT and financial services. The seminar covered the tax rules relating to R&D, case studies and explain recent changes to the law including the new R&D Tax Concession for multinationals.

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

Individual sessions

The R&D tax concession

Author(s):  Ezra HEFTER This paper covers:

  • benefits of the R&D Tax Concession (or R&D Tax Offset)
  • key eligibility criteria
  • case studies covering products, processes and services
  • International Premium R&D Tax Concession and other recent legislative changes
  • implications for self-assessment (ATO/AusIndustry)
  • Commercial Ready Grants
  • Renewable Energy Development Initiative Grant
  • Food Innovation Grant
  • Export Market Development Grant.
Materials from this session: