The research and development (R&D) Tax Incentive aims to boost competitiveness and improve productivity across the Australian economy by:
- encouraging industry to conduct R&D that may not otherwise have been conducted;
- improving the incentive for smaller firms to undertake R&D;
- providing business with more predictable, less complex support.
The deadline to submit an R&D Tax Incentive application in relation to the financial year ended 30 June 2023, is 30 April 2024.
As this date is fast approaching, if you are claiming R&D for the 2023 financial year, we recommend you act now to ensure your application is submitted to AusIndustry by this due date.
If you have not submitted an R&D Tax Incentive application before, please find information at the below ATO website link to determine eligibility.
If you have any questions regarding the R&D Tax Incentive, please don’t hesitate to contact your Hall Chadwick QLD advisor.
