The R&D tax concession is the principal Government initiative to enhance and increase the amount of R&D being conducted in Australia. The concession enables Australian companies to deduct up to 125% of eligible expenditure incurred on R&D activities (sometimes up to 175%). Eligible small companies now have the option of taking the equivalent of the R&D tax concession as a refundable tax offset. This means that even if the company is in a tax loss position, it can claim the benefit as a cash rebate.
maintenance