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Are you leaving money on the
table with regards to R&D?

Accessing the federal governments 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 these additional deductions convert to a refundable
amount equal to the same effect of the deduction, as if you had
been in a tax payable position.

If you would like review the eligibility requirements further please refer
to the attached document 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. 
click here

Did you know it is still not too late to access the R&D concessions for the
year ended 30 June 2009?  Even if you have already lodged your 2009
return, as long as you have registered with AusIndustry before 30 April
2010, you could still be eligible for a rebate or refund of tax!

If you think this may have some application to you and your business,
please contact Michael Garrone or your usual adviser from UHY Haines
Norton to discuss your ability to access these concessions further. 

Please remember, you need to act now, to ensure you are registered
with AusIndustry before 30 April 2010.

 
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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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