{"id":854,"date":"2016-01-18T06:52:17","date_gmt":"2016-01-18T06:52:17","guid":{"rendered":"http:\/\/ausgrant.com.au\/?p=854"},"modified":"2017-06-01T06:56:42","modified_gmt":"2017-06-01T06:56:42","slug":"how-do-i-know-if-i-do-rd-if-i-qualify-for-the-tax-incentive","status":"publish","type":"post","link":"https:\/\/ausgrant.com\/au\/how-do-i-know-if-i-do-rd-if-i-qualify-for-the-tax-incentive\/","title":{"rendered":"How Do I Know If I do R&D & If I Qualify for the Tax Incentive?"},"content":{"rendered":"

\"question-mark-1026530_960_720\"<\/a>As Australia begins a more digital journey in 2016, one that Turnbull has patented as being more innovative, the role of research and development (R&D) may become\u00a0pivotal to businesses in the private sector.\u00a0With this in mind, when it comes to government incentives for companies you can\u2019t undervalue the worth of the R&D Tax Incentive for developing a business.<\/p>\n

The Research and Development (R&D) Tax Incentive offers companies up to 43.5 cents back for every eligible dollar \u2013 even in cases where small companies aren\u2019t yet paying tax. It is a focused, significant entitlement program\u00a0that may aid business owners offset some of the costs of doing R&D. The incentive\u2019s purpose is to assist more businesses to do R&D and innovate. However, many companies aren\u2019t certain on what exactly qualifies as \u201cR&D\u201d.<\/p>\n

Essentially, if you are spending expenditure to advance existing or produce new products, services, or processes, then there is a high probability you are doing R&D. This can originate in numerous forms, such as: streamlining manufacturing process, constructing an app to deliver an enhanced customer experience to clients, or evolving a new food item with a different or rare combination of ingredients.<\/p>\n

For a company to be able to claim the R&D Tax Incentive, the business must meet four standards. These are:<\/p>\n