Innovation Incentives: The R&D Tax Concession & Government Grants
Published on 08 May 2008
| Took place at City West Function Centre, Perth
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.