R&D AND GOVERNMENT GRANT SERVICES

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R&D tax incentive | R&D loans | EMDG

R&D tax incentives for Australian businesses

  • Refunds up to 43.5%
  • Major funding source
  • Tiered services pricing
  • Early access through loans
  • No win, no fee 

With refunds of up to 43.5% of  development costs, the R&D tax incentive is a major source of funding for startups and other businesses.  And yet, many early startups (in particular) aren’t aware of it.  And no you don’t need to be a tech startup.  Manufacturers, engineers and medical companies are also big users of the R&D tax incentive.

If you do know about it, maybe you haven’t found the right R&D service provider for the stage you’re at or maybe you’re wondering how you can wait until tax time to get the cash.

Whatever the case, we’ve got you covered. And we also work with lenders who’ll consider loaning you the money early.  Phew.

 

How does it work? 

Eligibility
You are likely to be eligible if you:

  • Are a company undertaking innovative, unique, non-trivial software or hardware development
  • Can describe this development as a series of experiments with unknown outcomes from which you have learned as you’ve progressed
  • Have spent at least $20K on R&D during the year, including employees and Australian contractors and their costs including equipment, rent and other R&D related overheads

So how do you get the money?
If you are eligible, here’s how it usually happens:

If you’re an early stage startup and not yet profitable, you will receive a 43.5 per cent cash refund from the ATO, typically six to eight weeks after lodging the R&D claim and associated tax return. If you’re already profitable, your R&D claim can reduce the tax that you’d otherwise be paying.

Pricing

Unlike other R&D providers, our fees are fixed and transparent – see below.

We work with two different specialist R&D providers – Catalyst Solutions and Worthington & Associates (a niche firm founded by form PwC Nifty grants team). When we talk to you about the type of R&D you’re doing we’ll make a recommendation for which firm we think will suit you best. And you’re in good hands either way.

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R&D Tax

from $3,000

R&D Tax Incentive

Includes

  • Eligibility discussion
  • Review narrative
  • Expenditure calculation
  • AusIndustry Application
  • Prepare tax schedule

$3,000 up to $100k R&D spend
+$1,000 per $100k spend

All prices exclude GST

R&D preparation services are payable when submitted your claim is ready to lodge with AusIndustry
‘No success no fee’ means on the rare occasion that AusIndustry rejects a claim, we will refund our fees within 14 days
Any R&D tax incentive refund is received through submitting your tax return
If we’re preparing your tax return, our tax preparation fees are additional

More on R&D and forward funding

Preparing your R&D claim

To make an R&D claim, you need to be able to show that:

  • You are undertaking innovative, unique, non-trivial software or hardware development
  • You have undertaken a series of experiments with unknown outcomes

R&D is an extension of Australia’s tax system, so any claims are subject to potential audits.

If you’re one of our Launch, Go or Grow bookkeeping clients, you will be in a good position for these because you’ll be using the Receipt Bank App/email to submit invoices, receipts and expenses so they’ll all be digitally ready to go for auditors.

Want the official view?  Visit AusIndustry’s R&D tax incentive website.

Includes

  • Eligibility discussion
  • Review narrative
  • Expenditure calculation
  • AusIndustry Application
  • Prepare tax schedule

Price

From $3,000

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Additional service

If you’re wondering how you’re going to keep building your product, keep developing your ideas and just keep surviving until tax time to get your R&D refund, you need to know about R&D financing.

Likewise, if you’re considering raising funds from outside investment. With R&D financing (also known as R&D forward funding), you mightn’t need to seek outside investment, thereby keeping more equity in your startup for longer.  

We work with several lenders who specialise in providing loans against expected R&D tax refunds. You don’t need to have made a successful R&D claim in the past to be eligible, but if you have it will make the process quicker and easier.  Either way, it’s not guaranteed and we’ll let you know if it’s worth trying or not. A forward cashflow – which we can do for you – is a must when going for this type of financing. 

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