Navigating AusIndustry's Software Sector Guidance
In May 2024, AusIndustry released an updated version of their software sector guidance for the R&D Tax Incentive (R&DTI). It’s important to be aware of any changes to guidance materials as this provides an insight into how the program will be administered and the key considerations of the regulators.
Upcoming Grant Opportunities from the Medical Research Future Fund (MRFF)
The Medical Research Future Fund (MRFF) is a major source of health research funding in Australia, providing opportunities for both researchers and companies. The MRFF publishes funding rounds in advance, giving applicants reasonable notice to prepare. We have prepared an overview of upcoming grant opportunities, eligibility, and how Intellect Labs can support your submission.
Update on the Export Market Development Grant (EMDG), Round 4
Update on the Export Market Development Grant (EMDG), Round 4
R&D Tax Facts – August 2024
Our R&D Tax Facts is a summary over the previous quarter of developments in the world of the R&D Tax Incentive (R&DTI) program.
Streamlining R&D Tax Claims for Clinical Trials in Australia
Clinical trials have long been viewed favourably under the R&D Tax Incentive Program. To recognise this, the program offers an efficient registration process for trials registered with the Therapeutic Goods Administration, reducing the administrative burden for biotech companies. This streamlined approach, along with support through Advance Overseas Findings (AOF), empowers Australian biotech firms to innovate and lead on the global stage.
How to Successfully Navigate the Overseas Finding Process for R&D Tax Incentives
The Overseas Finding process is a crucial component of the Research & Development Tax Incentive (RDTI) in Australia, enabling companies to access a tax benefit for overseas activities that relate to an Australian R&D program. This guide explores the Overseas Finding process, the key conditions for eligibility, and recent ATO concerns as outlined in taxpayer alerts. We also highlight a successful case study with a cyber security innovator, Internet 2.0, to illustrate effective strategies for securing an Overseas Finding.
R&D Tax Incentives and the SME Turnover Dilemma
The R&D Tax Incentive remains Australia’s primary program for supporting businesses undertaking R&D activities with an estimated $3.2 billion annual investment. The program uses a $20 million annual turnover threshold to determine a company’s R&D tax rebate, a threshold that has been unchanged since 2011. In our view, it is time to review this arbitrary line in the sand and ensure the R&DTI aligns with other SME policies so that highly innovative medium sized businesses are incentivised to continue their R&D investment as they grow.
EOFY R&D Tax Incentive Considerations
The end of the financial year brings with it some important considerations if you’re planning to lodge an FY24 R&D Tax Incentive claim. We’ve summarised some key things you need to be across.
Recent AAT decision – Confirming the ATO’s powers to determine the eligibility of R&D Tax Incentive activities
In its latest R&D Tax Incentive decision (GQHC v Commissioner of Taxation [2024] AATA 409) , the Administrative Appeals Tribunal (AAT) affirmed the position that the ATO has the power to assess and determine the eligibility of R&D activities per the legislative requirements.
State Government grant program deadlines
State governments across Australia regularly offer grant funding that can provide a cash boost for your business.
Upcoming R&D tax deadline
Reminder of an important, upcoming R&D Tax Incentive (RDTI) deadline for businesses with a 30 June 2023 year end.
The impact of Government Grants on R&D Tax Incentive claims
Companies preparing R&D Tax Incentive claims need to be aware of rules that prevent “double-dipping” when they have received grants or other recoupments for the R&D activities being claimed.
R&D Tax Facts - February 2024
Our R&D Tax Facts for Feb 2024 providing a summary over the previous quarter of developments in the world of the R&D Tax Incentive (R&DTI) program.
New AAT decision – Development of customised basketball shoe not eligible under R&DTI
An AAT decision handed down in December 2023 found activities relating to the development of a customised basketball shoe to suit the requirements of an Australian professional basketball player were neither core nor supporting activities, within the meaning of the relevant legal provisions.
Navigating Transparency: Upcoming Publication of R&D Tax Incentive Claim Information
The ATO is set to publish detailed information on R&D tax incentive claims submitted by R&D entities. The initiative aims to enhance transparency, shed light on the benefits derived by companies, and encourage voluntary compliance with the R&D program.
'Tis the Season for Scrutiny – Two new R&D Taxpayer Alerts from the ATO
The ATO has a special gift for R&D tax claimants this season – two new Taxpayer Alerts as a reminder to ensure compliance with some of the more complex areas of the program.
Claiming R&D Tax Offsets for Activities Outside Australia
To claim overseas R&D activities, businesses must first obtain an Advance Overseas Finding from the Department Industry, Science and Resources (DISR).
How can your R&D program benefit from external tech?
How can your R&D program benefit from external tech?
All I Want for Christmas...is a grant for my SME
With Christmas less than 2 months away, we’ve prepared an early stocking stuffer for innovative SMEs and start-ups.
Niche Funding Opportunities - The Hidden Gems of Grant Seeking
In the world of grant seeking, complaints are often levelled at the labour-intensive nature of the application process and the low probability of success. While these points are valid, strategic navigation of the grant landscape can make all the difference.