Upcoming R&D tax deadline

This is a reminder of an upcoming R&D Tax Incentive (RDTI) deadline for businesses with a 30 June 2024 year end.   

Eligible R&D activities undertaken in the 2024 financial year need to be registered with the Department of Industry, Science and Resources by no later than 11.59pm AEST Tuesday, 30 April 2025. Registration of R&D activities is the first, vital step to access R&D tax benefits via your annual tax return.

The RDTI program provides valuable support for businesses investing in R&D and innovation via access to annual tax offsets. The tax benefit available to companies is determined by their annual aggregated turnover: 

• Companies with less than $20mill aggregated turnover are entitled to a refundable tax offset equal to the company’s corporate tax rate plus an 18.5% premium. 

• Companies with more than $20mill aggregated turnover are entitled to a non-refundable tax offset equal to the company’s corporate tax rate plus a premium of 8.5% or 16.5% depending on R&D Intensity. 

Whilst the benefits available are generous, the RDTI eligibility requirements can be challenging to navigate. Claimants need to ensure they correctly identify R&D activities and costs that can be claimed and compile the necessary evidence and supporting documentation.  

We provide comprehensive and transparent assistance with all aspects of the RDTI claim process. Our team will be happy to help you assess whether you meet all eligibility requirements and guide you through the application process.

Please contact us if you’re keen to explore the RDTI program further.

Please contact us if you’re keen to explore the RDTI program further.