R&D Tax Incentive
Register
The government is committed to funding your R&D, to receive it there are some forms that need to be completed. The R&D application is where we register your R&D activities. We have filled out hundreds of these forms over the past decade. Let us present your genius in a format that can be easily digested by the government officiators.
Claim
Once your R&D activities have been registered with the government it’s time to claim the cash refund you’re entitled to. This is done by calculating the total money you have spent on the R&D activities in the prior financial year. This can be a combination of labour, materials, overhead and more (this is where we come in). These numbers are then submitted with your registration details to the ATO for authorisation.
Get paid
Keep watching you bank balance because once you are at this stage you are ready to receive up to 43.5% of the amount claimed as a cash refund.
Why work with
R&D Lab?
Let our team of experienced experts and chartered accountants work with you on your journey through innovation and help you access the capital you need.
We have been serving Queensland for the past decade providing access to much need funds that have assisted businesses of all sizes and at all points of growth, from start-ups to established operations. Our clients hail from a range of diverse backgrounds including: plastics recycling, 4wd recovery equipment, roof coatings, fire suppressants, software applications, medical equipment, manufacturing, engineering, health and fitness industry, entertainment sector and more.
FAQs
Who is eligible?
You must be a company to claim any benefit from the R&D tax incentive and you must have spent at least $20k on R&D expenses during the year.
How long does the process take?
We generally allow for the process to take anywhere from 2–4 months to complete, from preparation of application to cash being refunded.
Is there a deadline for claiming the R&D tax incentive?
For most companies the deadline is April 30th following the end of the financial year (ie. 2024 financial year claim is due by 30th April 2025). If you miss this date any refund you may have been entitled to will be gone.
What do I need before I speak to someone from R&D Lab?
It’s our job to secure you the R&D tax incentive. We generally just need 10–15mins of your time to establish whether you are a potential candidate for for the R&D incentive program. Please just pick up the phone or shoot us an email and let our highly qualified and experienced team do the rest.
