R&D Tax time!!!!!
Hi All, it is that time of the year again and incorporated companies (for profit) that are thinking about claiming the Research and Development Tax Incentive (R&DTI) entitlement at a fixed fee based on time and materials. Please contact Andrew Miles from Your R&D Tax 0431 162 212 or firstname.lastname@example.org
DO NOT GET PILLAGED BY TIER 1 and 2 franchise accounting firms who charge ridiculous success fees. Some Big 4 charge 20% to 30% of the ATO rebate cheque.
Our scope of work below is also complimented by www.rdgo.com.au/rdti an Australian R&D Tax Software program where the R&DTI financial year claim information and substantiation of documentation is stored.
Our scope of work associated with the FY 19/20 R&D Tax Registration work includes:
- Interview (technical and finance ppl), Identifying and describing eligible R&D activities against the R&D criteria, including the separation of core R&D activities and supporting R&D activities.
- Undertaking a gap analysis of the contemporaneous documentation that exists to support the R&D Tax Incentive registration and determining what additional substantiation documentation is to be prepared by claimant and YRDT.
- Interim Draft Structure & Registration for review and gap analysis.
- Preparation of an R&D Project Review Document for each R&D project identified.
- Finalising the eligible R&D expenditure calculation including the allocation of eligible R&D expenditure against the eligible R&D activities.
- Preparation of the tax payer’s application for registration of R&D Activities for approval and signature by the public officer.
- Lodging the R&D Application with AusIndustry with our tax registration number.
- Preparation of the ATO R&D Tax Incentive Schedule.
- Preparation of the acquittal letter and associated documents for your records.
- Post lodgement AusIndustry compliance activity.
For more information see: https://www.business.gov.au/assistance/research-and-development-tax-incentive
Boost your business!
Round 4 of Business Victoria’s Boost Your Business program is now open, offering up to $50,000 in funding for eligible small and medium enterprises.
Find out more about the program, including funding streams and eligibility criteria, click here: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/Boost-Your-Business