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Research and Development Tax Incentive

Are you eligible for the Government’s R&D Tax Incentive? Are you missing out on a 43.5 per cent refundable tax offset? The R&D Tax Incentive provides generous benefits for eligible research and development activities. The R&D Tax Incentive is administered jointly by AusIndustry and the ATO. The program offers two core components: For income years from 1 July 2016: a 43.5 per cent refundable tax offset to eligible entities with an aggregated turnover of less than $20 million per annum a 38.5 per cent non-refundable tax offset to all other eligible entities. Unused offsets may be able to be carried forward for use in future income years. For income years starting before 1 July 2016: a 45 per c

Accelerated Depreciation For Small Business Has Been Extended

[if ie]><meta http-equiv="X-UA-Compatible" content="IE=Edge,chrome=1"/><![endif] StartFragment In the 2015-16 federal budget, the government increased the small business immediate deductibility threshold from $1,000 to $20,000, which was originally due to end at June 30, 2017. But a law amendment bill has recently been passed by Parliament that extends that measure by 12 months until June 30, 2018, after which the deductibility threshold will revert to $1,000. At the time of the original announcement, small businesses were defined as having an aggregate annual turnover of less than $2 million. Announcements from the most recent federal budget however, and the new legislation, make it clear t

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