R&D Update: 2020-21 Application Deadline
Please see some important timeline updates from RADBE about the R&D Tax Incentive over the coming months.
2020-21 R&D Closing Soon
There are only 3 months remaining to finalise your R&D application for the 2020-21 financial year. R&D Tax Incentive claims for the 2020-21 financial year close in April 2022, please contact us or your RADBE Consultant if you are interested in pursuing a claim.
New AusIndustry Requirement – Portal Access
The Australian Government now require all R&D Tax Incentive applications to be made through the designated AusIndustry portal. Detailed instructions can be found here. If you are not an established myGovID user for your business, this process may be lengthy and may impact our ability to submit an application by the deadline if not addressed soon.
Conducting R&D activities offshore?
An Overseas Finding is required where an eligible R&D activity is unable to be conducted in Australia and is subsequently undertaken overseas (excluding purchase of raw materials, off-the-shelf products, etc.). It is necessary to lodge an Overseas Finding prior to the end of the claim period (i.e. 30 June 2022) and typically occurs when facilities, equipment, environmental or biological features are not available in Australia. If you think that this may apply to you, please contact us for more information.
Doing R&D under a New Zealand company?
RADBE is now processing claims under New Zealand’s recently implemented R&D scheme, with pre-registration for 2021-22 due by May 7, 2022.
If you would like more information regarding any of the above, please contact us.
Business Ignite Project CLOSING SOON
The Queensland Government is committed to opening Queensland back up for business in the wake of COVID-19, funding a free business education program designed to help navigate economic impact.
The program is available to small business owners, their staff, aspiring and previous operators. It provides access to online resources, including libraries, materials, activities, classes, workshops, courses, e-books, templates and tools to assist businesses in understanding and navigating a response and build a stronger future.
The program is valued at upwards of $5,000 per user, and includes coverage of:
- Content Creation
- Digital Marketing
- Accounting and Finance
- Branding and PR
- Digitising Your Business
- HR and Recruitment
- Supply Chain
- Business Basics
- Pivot Opportunities
- Scaling Your Business
- Mindset and Growth
- Networking Opportunities
- Support and Mentoring
Contact us for more information.
Update: R&D Changes 2021
The R&D Tax Incentive is undergoing a number of reforms as part of the 2020-21 Federal Budget, including increased benefits for the 2021-22 financial year. Find out more here.
Kia ora, R&D in NZ
RADBE is now providing RDTI services in New Zealand, find out more information here.
RDTI Concerns Raised in Estimates 26/02/19
The research and development tax incentive (RDTI) was a main focus during the Department of Industry’s appearance at senate estimates on Thursday afternoon.
New RDTI Guidance Article
The guidance outlines how companies undertaking software development will have to be more specific with making sure that activities meet the government’s definition of research and development, and keep better records of the activities...
September Update for State based Government Grants
STATE-BASED GOVERNMENT GRANTS – SEPTEMBER 2018 UPDATE
In the 2018 budget the Queensland Government injected an additional $73 million over 4 years into the Advance Queensland Program bringing the total available funds to $650 million.
New information relevant to Federal Government Grants August 2018