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Maximise Your R&D Tax Incentive Benefits with Expert Tips

Maximise Your R&D Tax Incentive Benefits with Expert Tips

NEWS BULLETIN | August 22nd, 2023


Are you ready to make the most of the Research & Development Tax Incentive (RDTI)? We understand that navigating this process can be complex, but we’re here to help you succeed. Here are essential tips to ensure your RDTI claim is both solid and rewarding:


Tip #1: Partner with Seasoned R&D Tax Experts

Leverage the expertise of a reputable R&D Tax agent who comprehends your technology landscape. Their insights will help confirm your eligibility and align eligible Core and Supporting activities with claimable expenses. While self-preparation is possible, the intricate nature of the program increases the risk of claim disputes, potentially leading to repayments, penalties, and interest.


Tip #2: Keep Comprehensive and Timely Records

Maintain contemporaneous R&D records as you go along. This minimises the challenge of recalling specifics from prior years and streamlines the RDTI process. Your well-organised documentation strengthens the validity of your claim and safeguards you in case of audits.


Tip #3: Time Your Expenditures and Applications Smartly

Ensure R&D expenditures to associates are settled by the financial year-end to optimise your R&D benefit. Companies are urged to lodge their R&D Tax Incentive registration applications as early as possible, given the dynamic processing times by AusIndustry. While the standard duration aims for 80 days, factors like high-demand periods (April-July, October-November), application complexity, and compliance reviews can extend processing. Despite potential variations, AusIndustry remains committed to processing within the defined timelines whenever achievable. Lodging as early as possible ensures companies receive the benefit earlier.


Maximise Your Claimable Expenses

When analysing your financials, allocate your R&D expenditure across the following categories:

  • Research Service Provider (RSP) Expenses
  • Contractor Expenses (non-RSP)
  • Salary Expenditures
  • Other Direct and Overhead Expenses
  • Feedstock Input Expenditure
  • Expenditures to Associates
  • Decline in Value of R&D Assets
  • Balancing Adjustment Losses on Assets
  • Cooperative Research Centre Contributions

Our expert team is equipped to guide you through the finer nuances of these categories, ensuring you capture every eligible expense to enhance your R&D Tax Incentive benefits.

Don’t leave money on the table – let us help you navigate the intricacies of the RDTI and secure the rewards you deserve. Contact us today to start optimising your R&D Tax Incentive claim.



Give us a call today for assistance with your application.


Ryan can assist with services such as:

  • Scope your potential to claim various grant programs
  • Assist with the preparation and lodgement of grant applications
  • Review or provide a health check on your internally prepared grant applications
  • Establish record-keeping practices as required under various grant programs
  • Keeping industry informed on all new Government policy and grant initiatives

Don’t hesitate to give us a call or schedule a free assessment.