victoria university is a registered research service provider that is recognised as having expertise to perform research and development on behalf of other companies.
The R&D Tax Incentive program helps businesses offset some of the costs of doing R&D to incentivise businesses to undertake R&D and innovate.
The program is open to firms who are conducting eligible R&D, including R&D activities contracted through Registered research Service Providers like Victoria University.
The R&D Tax Incentive has two core components:
- a 43.5% refundable tax offset to eligible entities with an aggregated turnover of less than $20 million per annum
- a non-refundable 38.5% tax offset to all other eligible entities.
advice can be found from a variety of professional service providers, including the business.gov website or the australian taxation office.