The R&D Tax Incentive.
The Research and Development Tax Incentive (R&D Tax Incentive or R&DTI) helps to offset some of the costs of eligible R&D, which benefits the wider Australian economy.
If you’re a small to medium-sized company, you can collaborate with an RSP like Whistle Design Group, to conduct R&D activities for your company without having to invest in the specialist staff or infrastructure needed to support such activities.
Apply to register your eligible R&D with the Department of Industry, Science, Energy & Resources within 10 months of the end of your company’s income year. You may then receive a tax offset when you lodge your Company Income Tax Return with the Australian Taxation Office.
Whistle Design Group is a Registered Service Provider (RSP) for the R&D Tax Incentive.
Whistle Design Group is proud to be recognised by AusIndustry as a Registered Service Provider for the Research and Development Tax incentive.
Registration Number – RSP104563.
What do you get?
You may be eligible for a tax benefit to offset some of the cost of your eligible R&D activities. This may be a refundable or non-refundable offset depending on your company.
Companies with an aggregated turnover of less than $20 million:
May receive a refundable R&D offset rate equal to their corporate tax rate plus an 18.5% premium.
Companies with an aggregated turnover of $20 million or more:
May receive a non-refundable R&D tax offset rate equal to their corporate tax rate plus an incremental premium. Premium increments are based on the intensity of your R&D expenditure as a proportion of total expenditure for the year. There are two premium increments:
- R&D intensity up to 2% receives a tax offset equal to the company tax rate plus 8.5% premium
- R&D intensity above 2% receives a tax offset equal to the company tax rate plus 16.5% premium.
Eligibility.
Companies that engage an RSP to perform R&D activities can claim an R&D tax offset for eligible expenditure on registered R&D activities even if their total claim is less than the usual expenditure threshold of $20,000 in an income year.
Who is this for?
Your company needs to be liable to pay income tax in Australia, conduct at least one activity that meets the definition of a core R&D activity, and incur the minimum eligible R& expenditure.
Thanks to our diverse project experience and background, we are registered in the following fields.
Note: A change to the regulations governing applications for the R&D Tax Incentive (R&DTI) program now requires all applications to utilise the new field of research codes in the ANZSRC 2020. Our fields of research codes have been updated for 2022 onwards and are as listed below.
- 3303 Design
- 4002 Automotive engineering
- 4003 Biomedical engineering
- 4009 Electronics, sensors and digital hardware
- 4010 Engineering practice and education
- 4014 Manufacturing engineering
- 4017 Mechanical engineering
- 4099 Other engineering
Talk to us about supporting your R&D program and how you can claim an R&D tax offset for eligible expenditure on registered R&D activities.
Our R&DTI Stage Report.
To support our clients in preparation for lodgement, we provide an R&D TI Stage Report at the end of each Design Loop. The report typically outlines:
- Introduction
- Problem Statement (Hypothesis).
- Proposed Development Methodology (Experimental Method).
- Record of Development Activities Undertaken.
- Evaluation of Outcomes (Results).
- Proposed Next Steps.
Work with a Registered Service Provider for your eligible R&D Tax Incentive project.
If your project is eligible to claim for the R&D Tax Incentive, talk to the team at Whistle about supporting your project to claim your maximum offset. We are an Australian Government Registered Service Provider for the R&D Tax Incentive program.