What does this mean in monetary terms?
The R&D Tax Incentive is a 45% refundable tax offset, which is claimed through your income tax return. For example, if the company made a loss in 2012 and incurred $100,000 on R&D during the year, then they are entitled to a refund of $45,000. (The offset is firstly applied to company tax and any other tax liabilities outstanding first.)
When do companies have to register?
To claim, companies must register their R&D activities each income year in which the activities are undertaken and no later than 10 months after the company’s end of financial year. For most company’s this cut off will be by 30 April 2013 and they will be registering their 2012 activities.Read more about the R&D Tax Incentive
How do you receive the R&D tax offset?
If you would like to find out more about the R&D Tax
Incentive and what it will mean to your client’s cash flow, then
07 3172 2492 or email Moore Advisers.