The R&D Tax Incentive Scheme provides a 43.5% refundable tax credit to companies with an aggregated turnover of less than $20 million and a 38.5% non-refundable offset to all others.
At a minimum, applicants must
- be an incorporated company
- be conducting eligible core R&D activities. These are defined in the legislation as being experiments that are guided by hypotheses and conducted for the purpose of generating new knowledge
- have incurred eligible R&D expenditure or notional deductions of at least $20,000 (unless using a Research Service Provider or a Cooperative Research Centre).
This is a self-assessment programme. Further key eligibility requirements apply.
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