The R&D tax concession allows companies to deduct qualifying expenditure at 125% (normal) or 175% (premium).

For more info about eligibility, check out the Ausindustry website.

Why?

Basically the government is trying to build up the intellectual capital of our country. This acts as a little booster for any companies who willing to do the hard yards.

How?

Since this is a government initiative and specifically the ATO is involved, there may be just a little bit of paperwork….

Its not that bad but the ATO R&D tax concession section has all you need to know.

They have even provided you with an Excel spreadsheet to calculate how much R&D expenditure you can claim in your company tax return.

From the Taxabull team.

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