Do you want free money for your business in Sydney?
The R&D tax incentive (research and development)
is a benefit designed and implemented by the federal government to further empower Australian businesses and drive innovation by rewarding eligible R&D projects
with a tax refund
. The tax incentive also allows businesses to pay less tax
based on how much they have invested in eligible R&D projects within the year.
For new businesses, the tax refund from the R&D tax incentive can be extremely beneficial. The total amount that can be claimed through the it can be up to 43.5% of the total expenses
for businesses that are in a tax loss position. If your business has spent $100,000 on projects that are eligible for the R&D tax refund, then you are also eligible to claim an R&D tax refund of more than $40,000 if the eligible project has been registered.
Through the new tax scheme, the federal government also aspires to create more job opportunities
from businesses in Sydney that have access the R&D tax incentive and use it to commercialise and advertise their new products. It also aspires to develop the Australian economy. For every $1 that is used by the federal government on eligible R&D projects, about $6 goes back into the economy.
Let Carbon R&D and Grants help you claim your free money today! Give our office in Surry Hills
a visit to find out how we can help you.