Funding for AI Development

An overview of the R&D Tax Incentive.

*RDTI, for short.

What is the R&D Tax Incentive?

The Research and Development Tax Incentive is a government-assisted program designed to support innovative activities within Australia.

The RDTI helps businesses and entrepreneurs who are innovating in their industry access critical cashflow to help mitigate the risks and costs of R&D.

For eligible companies the RDTI looks like a tax offset or cash refund of up to 43.5% of eligible R&D expenditure!

Who can claim the R&D Tax Incentive?

There are several criteria you need to meet in order to be eligible for the R&D Tax Incentive. As a company, you must:

Be an Australian Company (or an overseas company with a legitimate Australian branch)

Have conducted eligible R&D activities(hypothesis-driven experimentation), and

Have incurred eligible R&D expenditure of at least $20,000AUD.

Book a free call to check your eligibility status:

Eligibility call

Why is the R&D Tax Incentive hard to access?

In order to claim the RDTI, companies must keep detailed, contemporaneous and accurate records of theirR&D activities and expenditure.

The level of detail and accuracy is determined by AusIndustry, the governing body of the scheme. They require records to be kept in a very specific manner and have a strict policy on whatR&D expenditure can count towards your claim.

For those who don’t have an intimate knowledge of RDTI policy and governance, pulling together a healthy claim can be overwhelming, confusing – and risky. This means that although eligible, you might:

Miss out on receiving the RDTI due to a technicality

Submit a claim that isn’t maximising your potential refund

Receive your refund, but later be selected for a regulatory audit (see the next FAQ for more on this).

What happens if my claim gets audited?

The ATO governs regulatory audits for the RDTI on behalf of AusIndustry. These audits target previous claims, meaning you may have already received (and spent) your refund before finding out an audit is coming your way.

As mentioned, the AusIndustry standards for recordkeeping and compliance are strict. If your claim does not pass regulatory standards, you could be asked to repay your refund in full, and additionally be charged with non-compliance fines and penalties.

Access funding for your AI Development.

How it works:

Are you currently doing any of these?

You might be eligible to access funding through the R&D Tax Incentive.

Advanced Machine Learning Model Development

Natural Language Processing (NLP) Innovation

Generative and Creative AI

Reinforcement Learning and Robotics

Computer Vision and Image Analysis

AI Ethics and
Bias Mitigation

An overview of the R&D Tax Incentive.

*RDTI, for short.

Synnch is purpose-built to make the R&D Tax Incentive more accessible.

Streamline
recordkeeping tasks.

Optimise compliance
and reduce risk.

Map and track R&D
expenditure in real-time.

Xero integration for
accurate financials.

In-platform team collaboration.

Claim-optimised
data structuring.

Book your free R&D tax eligibility call.

Access funding for your AI Development.

How it works:

Are you currently doing any of these?

You might be eligible to access funding through the R&D Tax Incentive.

Advanced Machine Learning Model Development

Natural Language Processing (NLP) Innovation

Generative and Creative AI

Reinforcement Learning and Robotics

Computer Vision and Image Analysis

AI Ethics and Bias Mitigation

An overview of the R&D Tax Incentive.

*RDTI, for short.

Synnch is purpose-built to make the R&D Tax Incentive more accessible.

Streamline recordkeeping tasks.

Optimise compliance and reduce risk.

Map and track R&D expenditure in real-time.

Xero integration foraccurate financials.

In-platform team collaboration.

Claim-optimised data structuring.

Book your free R&D tax eligibility call.

AI Ethics and
Bias Mitigation

Streamline
recordkeeping tasks.

Optimise compliance
and reduce risk.

Map and track R&D
expenditure in real-time.

Xero integration for
accurate financials.

Claim-optimised
data structuring.