R&D Tax and Incentives
The R&D Tax Incentive program is the Australian Government’s largest targeted entitlement program, aimed to assist Australian companies in offsetting some of the costs of their R&D activities.
The R&D Tax Incentive (RDTI) program offsets the costs of undertaking research and development activities in Australia. As such, exploring your eligibility for a RDTI claim is an important part of your IP strategy.
The program specifically targets small to medium Australian companies by providing a tax offset of 43.5%, refundable to companies in tax losses, delivering much needed cash flow to fund further R&D activities. Larger companies also receive a non-refundable tax offset of up to 38.5% for their eligible R&D activities.
Working with you
The RDTI program is a broad, industry based scheme operating across all industries including biotechnology, manufacturing, information technology, mining and engineering. At FB Rice we have the best technical experts across specialties in both our R&D and IP teams providing us with the technical depth to understand your R&D, to provide a robust, compliant claim. We work with you to maximise and protect your R&D claim and provide strategies for future R&D.
There is a strong relationship with your R&D and IP and at FB Rice, we have the added benefit of synching R&D tax plans with your IP strategy and commercialisation plans at the outset. Our integrated services help companies across the full R&D and IP cycle – for example, R&D claims and advice, IP protection and ultimately commercial exploitation.
In assessing and preparing a potential R&D claim, we can carry out the following services:
- transition and documentation set up
- identification and assessment of eligible R&D activity
- preparation of claim and advice
- review and lodgement
- analysis and process improvements.
Export Market Development Grant (EMDG) and other government incentives
In addition to R&D tax services, we help businesses claim reimbursement from the Export Market Development Grant (EMDG). This grant is a key Australian Government program assisting Australian businesses in developing their export markets taking their product or IP to a global stage.
We also work with companies to access other government incentive programs such as the Accelerating Commercialisation Grant, and can provide introductions to a range of contacts through our established networks.
Meet our team
With competitive pricing, we make sure you have direct access to senior expertise throughout the life of your claim. Partner, and head of our team Kate Mahady has almost 20 years of top tier R&D tax experience gained within the discipline of the top four chartered accounting firms.
With an applied physics technical background and strong industry experience, her expertise lies in understanding and applying the complex R&D Tax Incentive legislation across industries and helping clients achieve robust and supportable R&D claims.
WATCH: Due to her many years of experience, Kate Mahady is often asked to provide thought leadership in relation to the R&D Tax Incentive program, and more generally, polices around R&D in Australia. Watch Kate’s insights into R&D and how to support innovation in Australia.
Kate joined the “Your Money” panel to discuss the proposed changes to the R&D Tax Incentive program, and the potential effect on the biotechnology sector, with Matt McNamara (CEO of BioScience Managers), Richard Hopkins (Managing Director of Zelda Therapeutics) and David Blake (Co-Founder of Bioshares).
Kate Mahady was asked once again to appear as a guest on “Your Money” to discuss the federal budget and the potential changes to the R&D Tax Incentive program.
