R and D tax incentive for Australian Businesses
January 1, 2022
R&D tax incentive for Australian businesses
The Australian Government's R&D tax incentive provides targeted offsets that aim to encourage more companies to engage in R&D, in order to contribute to a stronger economy.
The incentive is designed to encourage research and development activities that companies may not otherwise do due to uncertain returns and risk.
What's involved?
The R&DTI offers two levels of tax offset depending on your aggregated turnover:
- a 43.5% refundable tax offset for eligible companies whose annual aggregated turnover is less than $20 million.
- a 38.5% non-refundable tax offset to eligible companies whose annual aggregated turnover is more than $20 million. (entities may be able to carry forward unused offset amounts to future income years).
Who is eligible?
The R&D Tax Incentive is a self-assessment program.
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