Meet The R&D Management Team
At ATCS, you can be assured to receive personalised support by means of a dedicated account manager and 24 hour assistance to work closely with you to determine all relevant expenditure and technical requirements under the R&D Tax Incentive Programme. We are your direct point of contact if you have any questions or require assistance.
Who is ATCS
Frequently Asked Questions
With many different grants and incentives available in Australia, many accounting firms, particularly small to medium sized, simply do not know about the program and its constantly changing definitions for qualifications. The reality is many accountants do not have the in-house expertise to meet all the technical, scientific, and engineering narratives that are required to successfully file a claim.
We are specialists in R&D Tax, and as it is the only service our company offers, you can be assured that we are experts in our field. We know how to navigate through legislation and eligibility in order to maximise your claim. To properly prepare a claim in order to maximise the full financial benefits, it takes many hours of our time, something of which your accountant may not have the capacity to manage. In doing so, you would also be paying your accountant an hourly fee, which would quickly add up in expenses. Our fee is taken from a percentage of your claim, so it is in both our interests to maximise your claim, and we will put in as many hours necessary to maximise your tax credit or refund without burdening your cash-flow position and consuming your budget.
We understand that many companies are startups, with low cash-flow position and highly burdened time commitments, and that it may seem a lot of effort to claim. Rest assured, if you contact us for assistance, we can minimise the time involvement by assisting you in establishing a system to record your activities as the year progresses. If you have already conducted or completed your project we can help you identify the records needed to assist with your claim, often you already have the documentation needed. We work with you to minimise the time involvement, and can assist within or outside of business hours to suit your needs. For several hours work, the return on investment could end up being the best hourly pay rate you could ever receive.
You only have 10 months after the end of each financial year in which to register your R&D activities.
You cannot claim retrospectively, therefore if you miss the deadline, you will miss the opportunity to claim up to 43.5% cash back of your R&D expenditure.
If you think you may be near this figure, there are a number of expenditure items you can claim that may bring you closer to the minimum requirement. This can include such things as a portion of your company overheads, for example, rent, electricity, telephone, etc. We can help you identify the eligible expenditure in order to maximise your benefit. If you have several smaller projects being conducted, it is possible that each project combined will reach the minimum requirement. The $20,000 is per claim, not per project.
The R&D Tax Incentive is a government initiative in association with the ATO and AusIndustry to encourage innovation in Australia. From a nation which has developed the Hills Hoist Clothesline, to the Black Box used in Airplanes, encouraging innovation supports the country’s capacity for increasing employment opportunities and boosting the economy. As this is an incentive, not a grant, provided you meet the eligibility criteria and provide the documentation as per AusIndustry requirements, you could be eligible to receive it.
Just as it is possible to lodge your own tax return, it is possible to lodge your own R&D claim. However, just as an accountant will know how to maximise your tax return, we know how to maximise your R&D claim. We identify exactly what is required, saving you valuable time otherwise spent researching and self-educating how to lodge the claim yourself, and with the frequent changes to policy and legislation, it would be difficult to remain up to date with all aspects of the R&D Tax Incentive. We can help you to avoid an AusIndustry assessment, or assist and prepare you in the event that one occurs.
Yes, we sure do! The highest compliment we can receive is the opportunity to assist someone that you know. We have a dedicated referral program to make the process simple and easy, and you could get $500 cash per referral, as well as providing your referee with 10% off their first account.