The Australian Government’s Research and Development (R&D) Tax Incentive offers crucial support for businesses engaging in eligible R&D activities. Designed to promote innovation, the program provides tax offsets to companies undertaking research that could lead to new or improved products, services, or processes.
To be eligible, businesses must conduct R&D activities that generate new knowledge or solve technical problems. Both core and supporting R&D activities may qualify. Eligible companies can apply for up to 43.5% tax offset, making it a powerful tool for businesses to reduce costs and foster innovation.
Is your business eligible? Visit the official government site to check, and take advantage of this opportunity to fuel your R&D journey.
For more details visit: https://business.gov.au/grants-and-programs/research-and-development-tax-incentive/check-if-you-are-eligible-for-the-randd-tax-incentive