Deadline approaching – don’t miss out on the R&D Tax Incentive

The Research and Development (R&D) Tax Incentive is a crucial program aimed at fostering innovation in Australia. It provides valuable tax offsets and even cash refunds to companies undertaking eligible R&D activities.
Almost all manufacturers will be undertaking some form of R&D.

To benefit from this incentive, companies must register their R&D activities with AusIndustry within ten months of the end of their income year. For most of you, this means you must submit your registration for the 2024 financial year by 30 April 2025.

Once registered, the incentive is available upon lodgement of the company income tax return. It is worth noting that if you have already lodged your 2024 company tax return you can always lodge an amendment to include your R&D expenditure.

Need help?

If you would like to know more about the potential tax credits and grants available to your business, including the R&D Tax Incentive, contact Northern Strength. We’re here to connect you with the expertise and support you need to succeed.