Want to Claim 45 cents in the dollar for R&D?

Author: Sarahryan125 | Posted: 14.12.2011

The Australian federal government is prepared to share the risk with firms who are willing to invest and use innovation as a business driver. 

 

Companies will get 45 cents for their R&D dollar.  But who is eligible? What does using the scientific method mean to prove your eligibility? What are the new rules and what do I need to put in place to claim?

 

To navigate through the government red-tape, the NSW Innovation Advisory Service, asked industry specialists TCF Services, to present what is involved for start up R&D firms and firms under $20m in annual sales doing R&D. Many of these companies are currently trading in a tax loss position and have never made claims in the past as they could not receive cash, only further tax losses which they did not need or wish to pay a consultant to receive.  TCF Services, a specialist in grants for small business, will outline how best to manage these situations.

 

This presentation complements the recent ausindustry / Australian Tax Office presentations on R&D in a candid, accessible way, using case studies and followed by a Q&A session. 

 

Presented as a recorded webinar, principal of TCF Services, Gerry Frittmann also covered:

-how to structure your R&D entity before you start to be in a position to receive the funding

-how the new rule as to how payments must be made if associated entities/ parties are involved – unlike the old scheme – physical payments must be made

-what records need to be kept to prove your experimental approach.

-when you can claim and how long it take to receive the funds.

To access the webinar recording visit http://www.alchemyequities.com.au

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