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Research & Development Tax Incentive

What is the R&D Tax Incentive?

The R&D Tax Incentive (RDTI) is Australia’s single largest Government Incentive. Australian companies creating new and novel products and services can utilise the RDTI to claim back a proportion of their eligible expenditure as a cash refund or tax offset.

Who administers the R&D Tax Incentive?

The R&D Tax Incentive is administered by AusIndustry; a part of the Federal Department for Industry, Science & Technology, in collaboration with the ATO.

How much can I claim back on the R&D Tax Incentive?

You can claim back up to 43.5% of eligible expenditure under the Australian Government R&D Tax Incentive Program. To find out how to maximise your claim amount, speak to one our R&D experts today.

How do I apply for the R&D Tax Incentive?

To apply for the R&D Tax Incentive, it is required that you complete a registration application with AusIndustry. Take all the guesswork away with applying by booking in a free assessment with us to assess your eligibility.  Once we go over your eligibility, we’ll then process the application for you. It’s that easy!

What can you claim on the R&D Tax Incentive?

You can claim back direct costs associated with the R&D undertaken, including activities, overheads & supporting expenses.  It’s best to speak to one of our R&D experts to find out more on what you can claim back.

I conduct eligible activities overseas; can I still claim?

Possibly. You may need to apply for an Advanced Overseas Finding from the Industry Research and Development Board prior to the end of the financial year. This is a lengthy process and can take several months. Learn more about advanced overseas findings by giving us a call to speak with one of our expert consultants.

How can I find out if my business is eligible?

Take our 3 minute eligibility quiz to find out!

About Synnch

Is my sensitive data secure on Synnch?

Yes, your data is protected using a range of data protection measures that meet the Australian Privacy Principles (APPs), you can read more about our commitment your security and privacy here.

Are the costs associated with Synnch classified as eligible expenditure?

Yes, a proportion of your monthly Synnch subscription fees can be claimed back in your lodgement.

I have an existing R&D Consultant, can I use Synnch in conjunction with their services?

Yes, you can bring your own R&D Tax Consultant and create a login for them to review your R&D compliance records throughout the year.

How does Synnch pricing work?

Synnch is available as a monthly subscription and is calculated based on your R&D activity level and total eligible expenditure. To learn more about our pricing, book a consult with our Sales Team.

Is support available to train my team and setup Synnch?

Yes, depending on your monthly package, we will meet with you virtually, either quarterly or monthly, to review your R&D compliance and assess new activities as they come online. We are also available to chat via the Synnch platform during business hours.

How does Synnch integrate with Xero?

Synnch extracts data from Xero relating to R&D across five key accounts within a Tracking Category. We will work with you or your accountant to establish the Tracking Category, then train your team to use it for maximum effect.

How long does it take from engagement to setup and training?

If we have access to right information and people within your team, we can engage, on-board and train your team within 72 hours.

R&D Tax Incentive key dates

When do I claim?

The R&D Tax Incentive is claimed each financial year, from 1st July.

When is the cut-off date for claiming the previous financial year?

10 months after the end of the financial year, April 30.

When can I lodge my claim?

We aim to lodge all claims by the end of Q1 the following financial year. However, it can depend on when your engagement began, and if you elected for pro-rata billing for mid-year engagements. To learn more about how subscription pricing works book a meeting with our sales team.

Updates on R&D Tax Incentive

Is the R&D Tax Incentive legislation likely to change?

The RDTI has become a crucial part of our economy and a key resource for both emerging and traditional industry sectors. It is unlikely that the RDTI will disappear altogether, but it may undergo significant change. Some claimants and tax advisors have taken advantage of this lucrative incentive, prompting scrutiny and debate at a federal level. As a compliance tool, we hope Synnch can enable industry-led self-regulation, and we hope to have positive impact for all stakeholders involved.

What happens if the R&D Tax Incentive legislation does change?

Synnch was designed and constructed to be nimble in response to legislative or industry change. In fact, we already review key sources of legislative interpretation and AusIndsutry communication and actively implement changes to our user interface and feature set in response.

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