An important part of the Government’s commitment to Research and Development (R&D) is facilitating access by small and medium sized companies to expert R&D services, particularly those residing in public sector research organisations.
There are a number of advantages that RRA’s offer to their clients;
- expenditure for Australian R&D work contracted to an RRA, within approved classes of activity, is eligible for the full concession in the year of income, irrespective of the annual R&D expenditure of the claimant, that is the normal annual expenditure threshold of $20,000 is waived.
- prepayments for contracted Australian R&D may be claimed by companies up to twelve months in advance of the work being carried out.
- small and medium-sized firms are able to undertake R&D programs without having to invest in costly R&D equipment and expertise.
For the listing of existing RRA’s click here:
For more information about how Treadstone can help you make the most out of your R&D Tax Concession call us now on (03) 9016 3575