STEP 2: Is My Business Eligible?

The R&D Tax Incentive is open to companies from any industry in Australia. Under the program you self-assess  whether or not your company is eligible to register activities and claim the R&D Tax Incentive in any given year.

 

  • Generally a company that is liable to pay tax in Australia and is incorporated under Australian law is eligible.
  • Under certain circumstances overseas companies operating in Australia can be eligible.
  • Trusts are generally not eligible.
 

Find an example relevant to your industry

 

 

 

BAKING STUFF PTY LTD (Agrifood)

  • Activity based recordsBakingStuff Pty Ltd is a typical small company incorporated under Australian Law, producing specialised bread products.
  • To improve the health benefits of its product, BakingStuff decided to enter the next generation "functional food" market by introducing fish oil to its wholegrain bread line.
  • Functional foods are foods that aim to provide an additional health benefit beyond the nutrition in the traditional food item.

Biofnatics (Biotechnology)

  • Activity based recordsBiofnatics is an Australian, tax paying, incorporated company that develops components for surgical devices.
  • The company created an improved biodegradable coronary stent device and decided to proceed to clinical trials.
  • This involved conducting a portion of the work overseas – something that is allowed under the R&D Tax Incentive as long as an overseas finding  application is lodged and approved in advance.

Enviroloo (Built Environment)

  • Activity based recordsEnviroloo is a typical small-medium sized Australian tax paying company incorporated under Australian law.
  • The company has developed a non-toxic chemical toilet system for use in eco lodges and holiday houses that does not need to be flushed with water.
  • Further development and testing is needed to deploy the product in large-scale developments.

WindWake (Energy)

  • Activity based recordsWindWake is an Australian company that initially emerged as a spin-off out of a local university.
  • The company is incorporated under Australian law and is not a trust.
  • WindWake specialises in wind data analysis and wind flow modelling technologies.
  • The company has decided to undertake an R&D project to predict, analyse and ultimately reduce noise generation in wind farms.

ColdTec (Information & Communications Technology)

  • Activity based recordsColdTec is a small incorporated, tax paying company that develops innovative ICT service products.
  • ColdTec developed a new technology application called Groceryvision that uses the internet to automatically order replacement stock.
  • The new application that had several technological challenges that could not be met by existing products and required testing and development.

Rutimech (Manufacturing)

  • Activity based recordsRutimech is an Australian tax paying company that manufactures custom alloy for specialist applications.
  • It operates a small facility and employs around 30 people.
  • The company decided to implement new technology that uses inert rather than carbon anodes in the manufacture of its alloy – reducing costs and increasing energy efficiency.
 

References