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The Research & Development (R&D) Tax Incentive is Australia’s single largest government incentive. Australian companies creating new and novel products or services can utilise R&D to claim back a proportion of their eligible expenditure as a cash refund or tax offset on eligible activities conducted in Australia.
With a comprehensive strategy and the correct execution, the R&D Tax Incentive can provide cash flow and support to grow innovation within your company.
Hypothetical Example <$20 million annual turnover
If your annual turnover is less than $20 million, you’re eligible to claim 43.5% on R&D expenditure as a cash refund.
Hypothetical Example >$20 million annual turnover
If your annual turnover is greater than $20 million, you’re eligible to claim 38.5% on R&D expenditure as a tax offset.
Our R&D Tax Refund Calculator helps you estimate your potential R&D tax refund based on your company’s turnover and R&D expenditure, including costs related to R&D applications and R and D grants Australia. It provides a clearer picture of what financial benefits you might expect.
Not every business qualifies. Eligibility is determined by various factors, including the nature of your operations and the kind of research and innovation you’re undertaking. To easily check if you qualify, you can use our Eligibility Test.
It varies depending on your business needs. However, with prmpt., we typically engage in regular consultations, either fortnightly or monthly, to ensure a smooth process and that no R&D opportunity is missed.
Whilst R&D is a self-assessed program, it is not guaranteed from an audit/review by AusIndustry. Our job is to ensure your R&D application is eligible, that all costs are captured/maximised and that you have the supporting documentation to substantiate your claim.
Absolutely! Our consultants are always on the lookout for new grants suitable for your company. As these become available, we offer advice, application assistance, and management services in addition to R&D consulting.
Depending on how quickly we can obtain all the required information from yourself and your team, an R&D application can be processed by us in 2-3 weeks. Then allow for an additional 1-2 weeks for the R&D refund/offset to be issued by the ATO.
As every client and their business is different in terms of size, requirements and work involved, our proposals are tailored to each client’s individual needs. Depending on if it is just an R&D application, government grant or both we can discuss fees for our services and a model that best suits your business.
Feel free to contact us for a quote.
Sure!
If you have completed a grant application and simply need a review and honest feedback, we can also offer this service. Speak with one of our consultants to learn more.
We love working with entrepreneurs, inventors, CEOs, CFOs and R&D managers who are passionate about their R&D project. Your success is our success, and we’ll always endeavour to achieve the best outcomes for our clients in an efficient manner, hence why we call ourselves prmpt, especially when it comes to R&D applications and securing R and D grants Australia.
To get started, take our eligibility test.
prmpt. is a leading R&D tax advisory and government grant consulting firm based on the Gold Coast Queensland. We help businesses across Australia manage their R&D Tax Incentive claims and access government grants via end-to-end support, from eligibility assessments to audit-ready documentation, ensuring full compliance with AusIndustry and ATO requirements.
Enter your details for the relevant financial year to calculate how much you could receive in an R&D tax refund.
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