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Do you get the most our of your R&D expenditure?
It is not too late to register for the 2010 financial year research and
development tax concessions.

Accessing the federal government’s research and development tax concessions is
often considered too complicated by small to medium enterprises to be worth their
while.  However, the benefits are real and quite simply amount to money in the bank!

In recent times some of our clients have had great success accessing their R&D
entitlements by engaging experts to review their entitlements and assist with the
preparation of the necessary documentation.  That is, someone else has come in
and done all the hard work for them which resulted in either a reduction in tax
payable or a tax refund.

The first step to be eligible for the R&D tax concessions is that you must be:
 
          a) developing NEW KNOWLEDGE; or
          b) acquiring new knowledge by developing NEW or IMPROVED;

                          - MATERIALS
                          - PRODUCTS
                          - PROCESSES
                          - DEVICES
                          - SERVICES

If eligible for the concessions you will receive a deduction equal to 125% of the
actual eligible expenditure (or up to 175% for organisations that invest in R & D
over a 3 year period).  For loss companies  with turnover under $5M, these
additional deductions convert to a refundable amount up to 37.5cents for each
dollar of eligible expenditure to the extent of available tax losses.

Click here to review the eligibility requirements prepared by Swanson Reed,
specialist R & D tax advisers.  We work with Swanson Reed to maximise your
entitlements to the tax concessions in an efficient and timely manner. 

Did you know it is still not too late to access the R&D concessions for the
year ended 30 June 2010?  Even if you have already lodged your 2010
return, as long as you have registered with AusIndustry before 30 April
2011, you could still be eligible for a rebate or refund of tax! Companies in
flood affected areas may also be eligible for an extension on the April 30
2011 Registration Deadline.

 
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UHY Haines Norton Brisbane Level 11, 42-60 Albert Street GPO Box 2876 Brisbane Qld 4000       P: 07 3210 5500 F: 07 3229 6174     E: brisbane@uhyhn.com.au www.uhyhnbrisbane.com.au UHY Haines Norton Gold Coast Level 9, 1 Corporate Court Bundall QLD 4217 P: 07 5510 4836 E: goldcoast@uhyhn.com.au

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