AGRICULTURE & FISHERIES
Farms and fishers across Australia are constantly developing new stock and techniques but this does not qualify for the RDTI. We can show you how to do a little research that will allow you to access the RDTI and get access to tax offsets for your development.
​
The ATO and the Department of Industry, Science, Energy and Resources have observed issues with R&D tax incentives claims made by companies in agricultural industries such as:
-
No R&D activities are being conducted.
-
The activities form part (or all) the entity's ordinary business activities.
-
The activities involve the application of established products and existing methodologies that a competent professional could have worked out the outcome without conducting an experiment.
-
The activities address a commercial rather than a technical risk.
-
The scale of R&D activities is disproportionate with the scale of any data collection, observation and evaluation.
-
The method employed to apportion overhead expenses allocates an unreasonably large amount to R&D.
-
It is uncertain whether the activities are being conducted by the company on its own behalf or for the entity carrying on the agricultural business.
-
It is uncertain whether amounts billed to related parties are paid.
​
So, if you are in the agricultural sector or fishing industries and you would like to make a claim for your Research and Development, talk to R&D Certainty first. We will help you arrange your activities to conform with the legislation and make a successful claim for the R&D Tax Incentive.
​
Your R&D Certainty industry consultant is Paul