Deadline Reminder: Research and Development (R&D) Applications - Lodgement Deadline Approaching

14-Feb-2017

If your company has undertaken eligible R&D activities during the financial year ended 30 June 2016, the lodgement deadline to submit an R&D Application with AusIndustry is 30 April 2017.

Whilst this submission deadline is fast approaching, Watermark’s Advisory Services are dedicated to providing R&D tax expertise and assist companies in claiming their entitlement to R&D tax benefits attributable to eligible R&D activities.

The R&D tax incentive provides generous benefits for eligible R&D activities. Two components of the program for the 2016 financial year include:

  • Companies with an aggregated turnover of less than $20M may be able to claim 45% of the eligible R&D expenditure as a cash refund; or
  • Larger companies with an aggregated turnover of $20M and above are able to claim a 40% non refundable tax benefit.

We look forward to hearing from you in the earliest and appreciate the opportunity to work with you in determining your eligibility for the R&D tax incentive, and in assisting you prepare your application.