Watermark has a fresh way of thinking: we understand the importance of protecting intellectual property, but we also know that organisations need to look beyond this to leverage their intellectual assets as an integral part of their business strategy.
The Government's Research & Development (R&D) Tax Incentive Program is designed to encourage industry to conduct research and development and is jointly administered by AusIndustry (on behalf of Innovation Australia) and the Australian Taxation Office (ATO).
Companies can offset the cost of their R&D more quickly than before, particularly through the refundable tax offset on eligible R&D expenditure for small to medium sized companies. From 1 July 2016, the program offers two levels of benefit:
With the benefit of both first hand experience in innovation and in R&D tax in chartered accounting firms, we provide assistance to companies conducting eligible R&D activities to gain access to their full tax entitlements afforded to them from the Government’s R&D tax incentive program.
The combination of our in-depth knowledge of your R&D activities, and our deep technical expertise in robust, substantiated and successful R&D tax claims perfectly positions us to add another dimension to your intellectual asset management. We can:
R&D activities must be registered with AusIndustry within ten months from the end of your income year and the related R&D tax schedule would then be lodged as part of your company’s income tax return. You must maintain contemporaneous documentation of the R&D activities and related expenditure.
To find out more about the R&D Tax Incentive Scheme, your eligibility or whether your R&D activities meet the criteria, please email firstname.lastname@example.org or contact David Mumford on (02) 9888 6600.