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Research & Development (R&D) Tax Concessions

The concession is broad-based, non-industry specific with the applicant entity deciding upon the scope and timing of the R&D. Does your business engage in activities that involve innovation or high levels of technical risk to create new or improved materials, products, devices, processes or services? Essentially your company may be eligible to receive a research tax concession.

If the answer is yes, then your business may be eligible to apply for the R&D tax concession.

Griffin Accountants can assist you in identifying R&D activities, ensuring you meet the eligibility requirements and claiming the R&D tax concession in the company income tax return.

The R&D tax concession enables companies to deduct up to 125% of eligible expenditure incurred on R&D activities from assessable income when lodging their income tax returns.

There is also a R&D tax offset option that allows companies in a loss making situation still benefit from the R&D tax concession by giving a cash equivalent refund rather that having to carry forward losses.


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