Partner with a team that cares.
AB&H are a professional services company that specialises in the facilitation of Research and Development (R&D) Tax Incentive applications for innovative Australian Companies undertaking R&D. Below you will find some information AB&H likes to send to new prospective clients that outlines the requirements a company needs to make to process an R&D Tax Incentive application.In essence, to be eligible for registration within the program you must demonstrate:
1. Your project is developing new knowledge that has not been discovered previously, anywhere in the world, and a statement about the knowledge sought must be made.
2. There is an element of uncertainty – you must define the project risks that demonstrate this (just the top 5) stated in the form “If X then Y” where X is the event and Y is the impact – e.g. If the response time from the computer is more than 1 second the user will find the APP to be unacceptable and the user will not use the APP
3. Your project has followed a systematic progression – referred to as the ‘scientific method’ – The flow of this method is the Hypothesis, Experimentation, Observation, Evaluation and Conclusion.
4. Experiments must be planned in advance and not be ad-hoc or ‘trial and error’. The path of experimentation must be determined in advance and not be a ‘journey of discovery’.
5. Project Records must substantiate the identification and scheduling of activities and the resources expended (e.g. cost of materials, cost of labour etc.).
6. Information provided to AusIndustry must be concise, accurate, quantifiable and measurable. Information of a ‘promotional’ nature is not of interest to AusIndustry.
There are also requirements regarding the structure of the company and the project expenditure. You need to be a Pty Ltd or Ltd Company and have spent more than $20K on R&D in the year being claimed for.