For any business, staying ahead of the competition is a constant challenge. The accelerating pace of change and increasing globalisation in markets means companies must innovate. Companies also need to take advantage of every opportunity to increase their revenue, reduce expenses and minimise tax.

Thanks to the Australian Government’s Research and Development (R&D) Tax Incentive program that provides companies with a substantial cash refund on eligible R&D activities, Australia is one of the most attractive locations in the world to undertake R&D activities.

Knowing how to make the most of this and other government programs and taxation regimes is essential for any organisation that wants to pursue innovation.

At Griffith Hack we collaborate with Glasshouse Advisory, also part of Xenith IP, to assist companies with the following services:

  • Preparing your R&D taxation return
  • Advising on eligibility of activities and ensuring documentation is adequate to support an R&D taxation claim
  • Reviewing past R&D taxation claims for opportunities to maximise costs claimed
  • Visiting your sites to identify eligible activities, often on a quarterly basis to record information contemporaneously
  • Managing the audit and review process with AusIndustry and ATO, including drafting and reviewing submissions and guiding you through the process
  • Improving documentation and systems, including developing best practice manuals that are customised for your business and sites, to ensure you capture details of eligible activities and costs that can be claimed

If you would like more information or to discuss further – please get in touch with your regular Griffith Hack contact or Marketing Executive Tracey Gold on 03 9243 8300.