What is the main issue?
With over 10 years’ experience and lodging 500+ R&D claims I have seen what works and what doesn’t.What I see is that there is a big difference between what businesses regard as R&D and what the Government deem as eligible R&D.
So, in other words, companies tend to claim things that are not R&D
Want to chat about the R&D tax incentive?
You may find it useful to schedule a chat to run through any questions you may have like:
AusIndustry doesn’t care if you have done R&D or not, they just care what you have written on your R&D application.
Once the deadline is over, you don’t get a chance to resubmit it or change it.
Poor R&D applications trigger audits which are very time consuming.
If you are deemed ineligible, any R&D rebates must be paid back with a 50% penalty applied.
Some Recent Feedback From Clients Who I Have Helped Get An R&D Grant
So, there can be problems with getting it wrong.
The Government has brought out a substantially new form for 2020-2021.
Previously, they wanted you to separate your ‘New Knowledge’ from your ‘Experiments’.
Now they want them linked together in an experiment.
If you label a ‘supporting activity’ as a ‘core activity’ – guess what….
– it can be deemed ineligible and any costs associated with it will have to be paid back.
New R&D Form
The new form is more closely aligned with the legislation and the questions are more direct.