Undeniably, confusion still reigns for many small business owners applying for the R&D Tax Incentive. Indeed, even the jargon littered throughout the description of the scheme could give anyone without a tax background a head spin. In light of this, we’ve collated a glossary of key terms to help businesses better understand the incentive and what we’re talking about. R&D Tax Incentive The R&D Tax Incentive is an entitlement scheme that aids businesses seeking to conduct research and development in order […]
Traditionally, February marks the wind down of summer and the beginning of the calendar year for business in Australia. Despite cricket and tennis filling our screens over the holiday break, economy and the financial market now takes the precedence in many individuals’ agendas. However, with considerable instability in global financial markets already this year, it’s important to underline how well the economy is doing. In particular, if one was to compare to the dark clouds on the international horizon. Reflecting […]
The preparation of an R&D Tax Incentive Registration form can often spur feelings of love and hate in equal measure.  Love – because if eligibility requirements are ratified, companies can obtain a generous cash rebate or a reduction in payable tax. Hate – because determining entitlement and the concept of drafting the registration form alone can be bewildering and arduous, with a potential audit a haunting concern. However, the R&D Tax Incentive is more broadly applicable than people realise. Rather, […]
Customarily, when people consider innovation they often concentrate on the end product – i.e. the app, the software or the piece of hardware. However, they generally dismiss the steps beforehand that are essential in developing the aforementioned innovative artefact. In particular, human resources play a large part in the innovation process. Australia transcends in generating talented, high quality professionals across a comprehensive range of industries. In fact, education is Australia’s fourth biggest export, surmounted only by iron ore, coal and […]