R&D Tax Concession - Tax Offset
An ‘R&D tax offset' (equivalent to the value of the R&D tax concession) is available to companies with an annual turnover of less than $5 million and whose aggregate R&D amount is more than $20,000 and less than $1 million per year. These threshold tests are also subject to grouping rules. Eligible companies can elect to receive the offset of 30 cents for each dollar that would otherwise have been claimable as a deduction.
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