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R&D FAQs

The research and development (R&D) grant can be mind-boggling. Good job our specialists are on hand to answer all of your questions! Below, we've answered some of the common queries our specialists are asked. Contact us if you need any assistance.

Am I eligible for the R&D tax incentive?

There are several requirements to be considered when assessing your eligibility for the R&D tax incentive. You must be operating as an Australian-based company and cannot be tax exempt. For more information, head over to our eligibility flow chart.
 

Do I have the right documentation in my business to claim?

In terms of the technical side of the claim, you will need documented evidence of the activities that have been undertaken throughout the year. As far as expenditure goes, it is best practice to have timesheet evidence for salary and wages claims and invoices available for contractor and other direct costs.
 

What do I need to spend to be eligible for R&D?

A company must incur a minimum of $20,000 on eligible expenditure to be eligible for an R&D claim.
 

How much will I get back on my R&D claim?

For companies with total turnover of less than $20 million, there is a 43.5% refundable tax offset. For companies with total turnover greater than $20 million, a non-refundable tax offset of 38.5% is available.
 

Will my R&D claim be audited?

The governing bodies associated with R&D claims (AusIndustry and the ATO) typically audit companies once every three to five years. It’s important to have the correct documentation in place upfront to support your claim and allow you to rest easy.
 

How much does it cost to submit an R&D claim?

The costs to submit a claim varies depending on individual circumstances. At Carbon, we specialise in lodging for small businesses, ensuring you can enjoy the benefits of the incentive. Contact us to discuss your case.
 
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