What is R&D?
Everyone has their own idea of what R&D is. At Hall Chadwick, we know what matters is how the legislation defines it. Accordingly, we take a first principles approach to R&D.
We have people on the team with technical engineering knowledge who understand the scientific method and can speak your technical language. R&D may sit in the tax code, but the activities themselves are necessarily science-based.
Hall Chadwick has you covered with dual scientific and accounting expertise.
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An R&D entity is entitled to receive one of two tax offset rates dependent on the aggregated turnover for the entity:
Aggregated Turnover Less than $20 Million
Entitled to an R&D tax offset rate equal to their corporate tax rate plus an 18.5 percentage point premium.
Aggregated Turnover Equal to $20 Million or More
Entitled to an R&D tax offset rate plus a variable premium based on the level of their incremental R&D intensity for their R&D expenditure.
WE'RE HERE TO HELP
We can help you with the full life-cycle of your R&D program, including:
- Assessing your eligibility to make an R&D claim
- Determining eligibility of specific activities and expenditure
- Making sure you have the right documentation to support your claim
- Preparing and submitting your R&D application to AusIndustry
- Preparing your R&D Tax Incentive Schedule for inclusion in your tax return
Encountering any uncertainty with your R&D, or simply want to learn a bit more about how the incentive works?
Reach out to the Hall Chadwick R&D team for confidential and experienced advice.
GET IN TOUCHMeet our Experts
Edward Allen
R & D Consultant