Design Momentum | Industrial Design
Industrial Design & Complete Product Development

R&D TAX INCENTIVE

 

R&D TAX INCENTIVE

 

 

The Australian government's R&D Tax Incentive can significantly reduce the cost of developing new products or improving existing products through a tax off-set.

R&D Tax incentive

ELIGIBILITY

Industrial design services including prototyping, concept exploration and design development are types of R&D activities. Design Momentum have worked with several clients who have benefited from this incentive.

Your business could be eligible to claim Design Momentum’s services against the R&D Tax Incentive, reducing costs by up to 43.5% as a tax offset against income tax liability.

Furthermore, Design Momentum is now registered as a Research Service Provider. This scheme enables companies who work with us to be eligible for the R&D Tax offset claims, even if their expenditure is less than $20 000.

Here are some useful links to find out more about the R&D Tax Incentive and your eligibility

R&D SNAPSHOT WEBSITE

Basic introduction to the scheme:
http://randdsnapshot.business.gov.au

RESEARCH SERVICE PROVIDERS 

Information of the benefits of working with a RSP:
https://www.business.gov.au/assistance/research-and-development-tax-incentive/research-service-providers

DEPARTMENT OF INDUSTRY, INNOVATION AND SCIENCE

More detailed information, plus application forms:
https://www.business.gov.au/assistance/research-and-development-tax-incentive

 

DISCLAIMER:
Design Momentum does not provide tax, legal or accounting advice. The material on this page is for informational purposes only, and is not intended to provide tax, legal or accounting advice. Consult your own tax, legal and accounting advisors to assess the R&D Tax Incentive in relation to your business.