R&D Tax Incentive & R&D Strategy

R&D Tax Incentive Compliance Services

The R&D Tax Incentive (R&DTI) is a means to subsidising the cost of research & development activities conducted by your business. 👨‍🔬👩‍🔬💲💲

If you are eligible, you can access up to a 43.5% or 48.5% refundable tax offset upon completion of your company tax return. The biggest challenge is how to navigate the myriad of legislative provisions that define eligibility.

This is where Ironclad Advisory comes in, to guide you through:

• R&D entity, activity & expenditure scoping.
• Preparation & submission of R&D activity registration application.
• Compilation of R&D expenditure schedule for your income tax return.
• Preparation & submission of Advance & Overseas Finding applications, a mechanism that gives a binding position wrt. R&D activity eligibility, also the ONLY means for any overseas R&D activity to be included in a claim.

Fundamental to R&D are the technical activities. This is no different wrt. R&DTI eligibility. Engage with a registered R&D Tax Agent who has an industry background developing real-world R&D, coupled with R&DTI experience.

Your means to Ironclad advice you can trust.

R&D Planning & Strategy Services

• Amazing R&D activities? ✅
• Great R&D consultant to meet your registration & compliance needs? ✅
• How about your company systems & processes to contemporaneously document & evidence your systematic progression of work….. 😨

What is the number 1 area of improvement wrt. the R&DTI your business should focus on? It’s ability to effectively record and evidence your R&D activities and expenditure in line with R&DTI legislative requirements.

Even the greatest R&D cannot be defended in the event of an R&DTI review, if company records do not back up what you say you’ve done. Would a bank hand over thousands, or even millions of dollars, if you weren’t able to evidence the ability to service your loanee obligations? Of course not! The R&DTI is no different, except the government allows a claimant to request an R&DTI offset without full documentation review. They will ask you to provide your evidence at some stage though….

Ironclad Advisory offers a range of R&D planning and strategy services to help prepare for and efficiently navigate your evidentiary obligations, which also support your company build more robust, structured R&D project management processes. Areas of support may include:

• R&D pre-planning workshops to prepare you for meeting R&DTI obligations from day 1.
• R&D documentation & filing method creation, management & reviews.
• R&D evidence reviews, evidence register creation & management.
• Internal R&D audit/stress-testing, to identify any potential weak points in R&DTI eligibility, supported by recommendations for how to reduce a claims eligibility risk profile.