Published on 15 Nov 07
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
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).
Tony is a Senior Manager with Ernst & Young and heads the R & D practice in Adelaide. He has over 11 years experience in R & D as a veterinary scientist, 13 years experience as a management consultant engaged in commercial R & D both nationally and internationally and lately as an accountant. He has extensive experience in providing both private and public sector clients with technical advice in relation to all types of R & D and Government Grants and Incentives.
Current at 16 October 2007