The R&D Tax Incentive represents valuable stimulus through substantial tax refunds and tax savings, yet remains underutilised. Do not let your clients miss out!

Each year, some 13,000 companies make use of the R&D Tax Incentive – Australia’s largest business assistance program, delivering either a 43.5% refundable or 38.5% non-refundable tax offset.

Research indicates that only half of eligible companies do not claim the incentive, and it is highly likely that many Bentleys clients are among this number. The key reasons for not claiming are primarily a general lack of awareness of the program and its eligibility requirements.

R&D Tax Incentives are more valuable to your clients than ever before

Due to COVID-19, the Federal Government provided a blanket extension to the FY18-19 R&D Tax registration lodgement deadline from 30 April 2020 to 30 September 2020. This gives us all an extra five months to look into our client base and investigate what companies might be able to make R&D claims, but have not done so.

To assist you, our R&D tax specialists have designed this user-friendly profiling tool, to help you gauge your client’s potential eligibility for the Incentive.

To access the tool, click on the link below.

You will then answer 10, guided multiple choice questions that will assist us in profiling prospective eligibility and a potential value proposition. Note, the result will NOT establish eligibility.

At the end of the ten profiling questions, a results page will appear and you will be invited to provide your details.

If you provide your details and press submit, a web link will be emailed to you (check your junk email) that will give you access to a web based report that will evaluate the results in some detail as well as provide you with some context and an action plan.

Profile your client's potential eligibility

This is a user-friendly client assessment tool, for the use of members of the Bentleys Network

R&D Tax Incentive can deliver cash to our clients. At the same time, it can create new, high value core business opportunities and strong customer relationships.

COVID-19 is impacting our client’s revenue and profitability. Historically profitable companies might now face losses in FY19-20. Where there is eligible R&D, these losses can be cashed out, representing a valuable source of non-dilutive cash. Furthermore, companies with revenues over $20 million may experience significant declines in FY19-20 where they come under the $20 million 43.5% refundable tax offset threshold and experience losses.

The opportunity exists to consider the impact of the R&D Incentive when undertaking tax planning with your clients for the 19-20 year, as companies can lodge R&D registrations from 1 July for the 19-20 year. This incentivises these clients to complete their 19-20 tax work in June in preparation for early lodgement in July.

Don’t miss this opportunity to add value for your clients. Contact your Bentleys R&D tax specialist with any queries whatsoever.