R&D Tax Incentive
The Australian Government offers an R&D tax incentive program to encourage more Australian companies to engage in R&D.
The incentive allows for:
- a 45% refundable tax offset (equivalent to a 150% deduction) for eligible R&D entities with a turnover of less than $20 million per annum
- a non-refundable 40% tax offset (equivalent to 133% deduction) for all other eligible R&D entities.
To be eligible, energy efficiency projects must be experimental, based upon established scientific principles and processes, and be conducted for the purpose of generating new knowledge.
Ausindustry manages the program and provides a range of information to guide companies through the process.
For more information visit the R&D Tax Incentive website.