{"id":826,"date":"2015-12-11T06:42:46","date_gmt":"2015-12-11T06:42:46","guid":{"rendered":"http:\/\/ausgrant.com.au\/?p=826"},"modified":"2017-06-01T06:59:05","modified_gmt":"2017-06-01T06:59:05","slug":"how-smes-can-drive-innovation-with-the-rd-tax-incentive","status":"publish","type":"post","link":"https:\/\/ausgrant.com\/au\/how-smes-can-drive-innovation-with-the-rd-tax-incentive\/","title":{"rendered":"How SME’s Can Drive Innovation with the R&D Tax Incentive"},"content":{"rendered":"

\"business-561388_640\"<\/a>Certainly, the phrase \u201cinnovation\u201d has become politically fashionable this week due to the release of Malcom Turnbull\u2019s Innovation Statement. The agenda has injected confidence in small\u00a0companies (SME) across Australia as the nation seeks to be more digitally steered. However, many small\u00a0\u00a0or young firms may be unaware that there are already measures they can be taking to maximise their cash flow. The research and development (R&D) incentive is intended to boost innovation and improve business processes \u2013 and can also provide companies with generous tax benefits.<\/p>\n

Although, there is a common misunderstanding that the R&D tax incentive\u00a0only relates to technology or\u00a0research focused companies, such as the enormous pharmaceuticals companies. Nonetheless, any business which is innovative or undertaking eligible activities may qualify.<\/p>\n

In fact, organisations that do not seem like they would fit the \u201ctypical research type\u201d may be able to claim – including retailers, wholesalers, healthcare organisations, renewable energy providers, food manufacturers and many more.<\/p>\n

Furthermore, micro businesses that participate in research and development are much more inclined to have increased development in sales and profitability than firms of the equal size that don\u2019t undertake research activities.<\/p>\n

However, when it comes to actually making a claim there is often a great deal of ambiguity about how to make a valid R&D claim. The perceived complexity could be another reason why many small businesses are not taking full advantage of the scheme. Yet, it is important to note that\u00a0the R&D Tax Incentive is one of the most effective methods of support for research in Australia and provides companies with up to 43.5 cents back for every eligible dollar \u2013 even in cases where small or young firms aren\u2019t yet paying tax.<\/p>\n

If you think your company may be eligible for the incentive, have a chat to\u00a0our R&D tax specialists\u00a0<\/a>who will be able to answer any further questions or help you make your claim. The earlier you get the ball running and submit your application, the sooner\u00a0your small company will receive their refund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Certainly, the phrase \u201cinnovation\u201d has become politically fashionable this week due to the release of Malcom Turnbull\u2019s Innovation Statement. The
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The\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ausgrant.com.au\/how-smes-can-drive-innovation-with-the-rd-tax-incentive\/\" \/>\n<meta property=\"og:site_name\" content=\"AusGrant - Leading R&D Grant Writers\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-11T06:42:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-06-01T06:59:05+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/ausgrant.com.au\/wp-content\/uploads\/2015\/10\/business-561388_640-300x200.jpg\" \/>\n<meta name=\"author\" content=\"Swanson Reed\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Swanson Reed\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/ausgrant.com.au\\\/how-smes-can-drive-innovation-with-the-rd-tax-incentive\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ausgrant.com.au\\\/how-smes-can-drive-innovation-with-the-rd-tax-incentive\\\/\"},\"author\":{\"name\":\"Swanson Reed\",\"@id\":\"https:\\\/\\\/ausgrant.com.au\\\/#\\\/schema\\\/person\\\/5d59514e4783957e2c05188c86929e87\"},\"headline\":\"How SME’s Can Drive Innovation with the R&D Tax Incentive\",\"datePublished\":\"2015-12-11T06:42:46+00:00\",\"dateModified\":\"2017-06-01T06:59:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ausgrant.com.au\\\/how-smes-can-drive-innovation-with-the-rd-tax-incentive\\\/\"},\"wordCount\":360,\"image\":{\"@id\":\"https:\\\/\\\/ausgrant.com.au\\\/how-smes-can-drive-innovation-with-the-rd-tax-incentive\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/ausgrant.com.au\\\/wp-content\\\/uploads\\\/2015\\\/10\\\/business-561388_640-300x200.jpg\",\"articleSection\":[\"Latest News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ausgrant.com.au\\\/how-smes-can-drive-innovation-with-the-rd-tax-incentive\\\/\",\"url\":\"https:\\\/\\\/ausgrant.com.au\\\/how-smes-can-drive-innovation-with-the-rd-tax-incentive\\\/\",\"name\":\"How SME's Can Drive Innovation with the R&D Tax Incentive - 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