R&D Tax Industry
The scale of the R&D Tax eco system has bred many predators who, in some instances, take advantage of the unaware with “no win no fee” or “success fees” structures of 15%, 20%, 30% and even more of the financial benefit received.
These fee structure are highly deceptive as the payment of the benefit itself does not represent “success” or “a win” as registrations are often reviewed several years after an application. If your claim was eventually disallowed, do you think you would get refund of your “success fee”?
The truth is that R&D Tax is a reward in the form of a reduction in company tax or a refund for eligible companies that conduct eligible R&D activities.
R&D Tax has been designed by AusIndustry and the ATO to be managed at the applicant level and there is no reason why you MUST work with an adviser and doing so does not necessarily mitigate compliance risks.
R&D Tax is a reward for knowledge management, not an entitlement. Eligibility for R&D Tax is more than the field or results of the work, the records kept along the way and the underpinning rationale and evidence is equally important in eligibility determination.
If you want to find out more about your prospective eligibility, take this free, anonymous self-assessment test here.