📋 𝐖𝐇𝐀𝐓 𝐈𝐒 𝐀𝐍 𝐀𝐔𝐒𝐈𝐍𝐃𝐔𝐒𝐓𝐑𝐘 𝐑𝐄𝐕𝐈𝐄𝐖? 📋
An AusIndustry review checks your R&D activities to ensure they meet the requirements of the R&D Tax Incentive program, while the ATO looks at your expenses. This process ensures that the R&D claims you make are legitimate and compliant with government standards.
🔍 𝐖𝐇𝐘 𝐃𝐎𝐄𝐒 𝐓𝐇𝐈𝐒 𝐌𝐀𝐓𝐓𝐄𝐑? 🔍
Understanding and preparing for an AusIndustry review is crucial because it validates your R&D tax claims. Successfully navigating this process can mean the difference between receiving substantial tax offsets and facing potential audits or penalties. Most likely, you don’t have a core activity, and your application is not very well articulated. We see it all the time - you describe how good your product is, the problem it solves, or the market opportunity, but guess what? This is not R&D. We need to find the science or a core activity. Don’t worry; this is quite common, but this is why you are being reviewed. Worst case scenario, AusIndustry doesn’t think you are doing R&D, and you have to pay back the R&D grant. Definitely not good.
🚀 𝐒𝐎 𝐖𝐇𝐀𝐓 𝐃𝐎 𝐘𝐎𝐔 𝐍𝐄𝐄𝐃 𝐓𝐎 𝐃𝐎? 🚀
First of all, book a meeting with us - $295 is a small price to pay to save potentially hundreds of thousands in repayments. The main thing we need to do is take away all the BS R&D and find the core activity that we can hang all the other R&D work (supporting activities) on. If we can’t find a core activity, then you are in trouble. But don’t worry - we are skilled in finding and identifying it. We then get you laser-focused on expanding that core activity and gathering the info you already have to support it. We change it from “we developed an app” to “we developed an algorithm to improve data security, and by the way, we needed an app to prove it.” By honing in on the core scientific or technological challenge, we ensure your application is robust and can withstand scrutiny.
📚 𝐑𝐄𝐀𝐋-𝐖𝐎𝐑𝐋𝐃 𝐄𝐗𝐀𝐌𝐏𝐋𝐄: 𝐓𝐔𝐑𝐍𝐈𝐍𝐆 𝐀 𝐏𝐎𝐓𝐄𝐍𝐓𝐈𝐀𝐋 𝐀𝐔𝐃𝐈𝐓 𝐈𝐍𝐓𝐎 𝐀 𝐒𝐔𝐂𝐂𝐄𝐒𝐒 📚
A client came to us after preparing their own R&D application for a dog collar. When I saw their submission, I instantly thought, "You are about to have a bad day and be audited." It was clear that both they and AusIndustry didn’t see a core activity in their project, hence the review. After a few consultations, we were able to change what sounded like BS into a clear and legitimate core activity. Here’s how we did it:
📞 𝐍𝐄𝐄𝐃 𝐇𝐄𝐋𝐏 𝐖𝐈𝐓𝐇 𝐘𝐎𝐔𝐑 𝐑&𝐃 𝐓𝐀𝐗 𝐈𝐍𝐂𝐄𝐍𝐓𝐈𝐕𝐄? 📞
At Bulletpoint, we get it - dealing with the R&D Tax Incentive program can be tough. From nailing down core activities to making sure your claims are audit-proof, we’ve got you covered. With over 10 years in the game, we’ve successfully lodged over 500 R&D applications and defended many against both ATO and AusIndustry reviews and audits.
We’re pros at finding the real scientific or technological core activities in your projects, making sure your claims are solid and compliant. Don’t just take our word for it - check out our Google reviews and see why we’re Australia’s highest-rated R&D tax consultant with over 250 reviews and a 4.8-star rating.
Need help with your R&D tax incentive? Reach out to Bulletpoint today.
Негізгі бет R&D Tax Incentive AusIndustry Review
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