The tax incentive reduces company R&D costs by offering tax offsets for eligible R&D expenditure. Eligible companies with a turnover of less than $20 million receive a refundable tax offset, allowing the benefit to be paid as a cash refund if they are in a tax loss position. All other eligible companies receive a non- refundable tax offset to help reduce the tax they pay. Contact Max Accountants to help you maximize your R&D Tax Incentives.
