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.
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:
RESEARCH SERVICE PROVIDERS
Information of the benefits of working with a RSP:
DEPARTMENT OF INDUSTRY, INNOVATION AND SCIENCE
More detailed information, plus application forms: