The introduction of Patent Box will see income derived in respect of Australian medical and biotech patents taxed at a concessional rate of 17% from the 2022-23 income year. This may be extended to the clean energy sector. This could see such companies save up to 13% in income tax. The concessional income tax [...]
Your 2021 FY application deadline for the R&D tax incentive is approaching. If your innovation and development expenditure during the tax year ended 30 June 2021 meets the eligibility criteria under the Government’s R&D Tax Incentive, your commitment to advancement can be rewarded with lower tax payable or obtaining cash refunds. Submit your application [...]
Innovation is one of the pinnacles of good business practice. However, sometimes innovation isn’t a process that can be achieved by one person alone. In business, some of the best ideas and practices that your business might achieve could occur through collaboration. Most businesses will have understood the impact and importance of internal collaboration [...]