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Category: R&D Tax Incentive

Unleashing Innovation: The Role of the R&D Tax Incentive & Other Business Grants

Posted on by Bruce Murray

Among the key business grants available in Australia, the Research and Development (R&D) Tax Incentive stands out as a significant driver of innovation and competitiveness. The R&D Tax Incentive is a targeted program that provides tax offsets or cash refunds to eligible entities engaged in eligible R&D activities. It aims to encourage businesses to invest in research and development, drive technological advancements, and stimulate economic growth. By incentivising innovation, the R&D Tax Incentive fosters a culture of experimentation and discovery, positioning Australia as a global leader in research and development.

How your Business Could Utilise this Incentive

Refundable Tax Offsets: Are available for eligible businesses with aggregated turnover of less than AUD 20 million, at a rate of 43.5% of their total R&D expenditure. Startups and SME’s (small to medium businesses) particularly benefit from a cash refund if the company is in a tax loss position.

Non-Refundable Tax Offsets: Available for all other eligible businesses, at a rate of 38.5% of their total R&D expenditure. The key benefit provided is the potential to reduce the amount of tax the company is required to pay, with any unused offset amount being carried forward into future income years. 

Eligibility Criteria

  • Must engage in eligible R&D activities. These are defined as either Core R&D activities, which are experimental activities whose outcome cannot be known or determined in advance, or Supporting R&D activities, which are directly related to core R&D activities.
  • Register your R&D activities with the Australian Government’s Department of Industry, Science, Energy and Resources before applying.
  • Must be Australian Incorporated, or be an Australian resident for income tax purposes. 

Potential Benefits Provided

  1. Business Acceleration: Your financial risk of R&D activities significantly reduces, making innovation more accessible and affordable for you than it is for your competitors. 
  2. Innovation Focus: Additional financial support enables development of new products, processes and services, driving growth and competitive advantage.
  3. Competitive Growth: Your newly enabled point-of-difference or first-to-market approach enables you to compete on a larger scale, and even advance to a global scale. 
  4. Scalable, Long-Term Growth: Companies that continually invest in R&D are better positioned to adapt to market changes, pressures, and technological advancements. This proactive approach not only fosters innovation but also fuels business growth. However, navigating the financial landscape of R&D can be daunting. That’s where the R&D Tax Incentive comes into play. It serves as a gateway to a fund with limitless potential. By leveraging this incentive, businesses can offset some of the costs associated with their R&D endeavors and gain a strategic financial advantage. But is it worth it? Are you eligible? We address these burning questions, cutting through the noise to reveal why applying for the R&D Tax Incentive is essential for unlocking the funding secrets your business needs in this article. 

The R&D Tax Incentive is a pivotal tool for fostering innovation within Australian businesses, offering both refundable and non-refundable tax offsets to support eligible research and development activities. By reducing the financial risk associated with R&D, this incentive makes it more accessible for startups and SMEs to invest in innovation, ultimately driving technological advancements and economic growth. Leveraging the R&D Tax Incentive allows businesses to offset significant costs, positioning them competitively on a global scale. However, navigating this financial landscape requires strategic insight and a thorough understanding of eligibility criteria, where tailored advisory services can be invaluable. Expert guidance helps businesses identify and apply for the right grants, ensuring alignment with their strategic objectives and maximising the potential for scalable, long-term growth. By integrating the R&D Tax Incentive into their financial strategies, companies unlock substantial funding and cultivate a culture of continuous innovation and market adaptation, essential for sustained success.

Identifying Other Grants for Your Business

The R&D Tax Incentive is just one way to inject non-equity funding into your business to help propel growth. In the dynamic landscape of business grants, success hinges on identifying the grants that align closely with your business goals and objectives. With a multitude of grant opportunities available, navigating through the sea of options can be daunting. However, by understanding the key essentials and leveraging available resources, businesses can maximise their chances of securing funding that propels them towards success. Consider exploring our tailored advisory services to streamline your grant search process and unlock its growth potential.

Finding the Perfect Match

Achieving funding success begins with pinpointing the grants whose objectives resonate with your business’s strategic vision. It’s not just about securing any grant but about securing the right grant—one that complements your goals, values, and aspirations. To do this effectively, consider the following:

Clarify Your Objectives: Before delving into the world of grants, take the time to clearly define your business objectives, including your short-term and long-term goals. Understanding what you aim to achieve will guide your search for grants that align with your priorities. 

Research Thoroughly: Conduct extensive research to identify grant programs that cater to your industry, sector, and specific needs. Explore government websites, industry associations, and grant databases to uncover opportunities that match your business’s focus areas.

Review Eligibility Criteria: Pay close attention to the eligibility criteria outlined in each grant program. Ensure that your business meets the requirements and criteria stipulated by the grant provider before investing time and effort into the application process.

Assess Potential Impact: Evaluate the potential impact of your project or initiative on your industry, community, and stakeholders. Grants often prioritise projects with demonstrable positive outcomes and significant societal or economic benefits.

Utilising Government Grant Resources

The Australian Government provides a wealth of resources and information online to assist businesses in accessing grant funding. These resources serve as valuable tools for navigating the grant landscape and identifying suitable opportunities. Some key government grant resource links available today include:

Community Grants Hub: https://www.communitygrants.gov.au/grants

Research Grants Services (RGS): https://www.researchgrants.gov.au/

Business Grants Hub: https://business.gov.au/grants-and-programs?resultsNum=10

GrantConnect https://www.grants.gov.au/

Australian Government Grants and Programs https://www.australia.gov.au/information-and-services/business-and-industry/grants-and-financial-assistance

Expert Guidance from Grant Consultants

Navigating the complexities of grant applications requires expertise and strategic insight. Grant consultants like our FundFindrs team, possess the knowledge and experience necessary to guide businesses through the intricacies of the grant landscape. With a deep understanding of grant requirements, evaluation criteria, and industry best practices, they can help businesses identify innovative aspects of their projects and articulate the potential impact on their respective industries.

The expertise of grant consultants can provide a significant competitive advantage in grant applications. By leveraging their insights and guidance, businesses can enhance the quality of their proposals, effectively communicate their value proposition, and increase their chances of securing funding. We offer tailored support and personalised assistance to businesses seeking grant funding, ensuring that they navigate the process with confidence and success.

Identifying the right grants for your business is a critical step towards achieving funding success and realising your strategic objectives. By leveraging available resources, conducting thorough research, and seeking expert guidance, businesses can position themselves as strong contenders in the competitive grant landscape, unlocking opportunities for growth, innovation, and impact.

 

 

Key Strategies for Grant Application Success

Securing grant funding requires a strategic approach that aligns with the expectations and priorities of grant reviewers. By implementing key strategies and avoiding common pitfalls, businesses can enhance their chances of success and maximise their impact. Here are six essential factors for grant success, insider advice on what grant reviewers look for, and common pitfalls to avoid.

  1. Clear Aligned Objectives:

Clearly articulate your project’s objectives and how they align with the goals of the grant program. Ensure that your objectives are specific, measurable, achievable, relevant, and time-bound (SMART), demonstrating a clear understanding of what you aim to achieve and how it fits within the broader context of the grant’s objectives.

  1. Measurable Outcomes:

Define measurable outcomes that illustrate the anticipated impact of your project. Quantifiable metrics allow grant reviewers to assess the effectiveness and success of your initiative, providing tangible evidence of its value and potential benefits to stakeholders.

  1. Demonstration of Need:

Provide compelling evidence to support the need for your project or initiative. Clearly articulate the problem or challenge you seek to address, backed by data, research, and stakeholder feedback. Demonstrating a clear understanding of the underlying need strengthens your case and underscores the significance of your proposed solution.

  1. Innovative and Unique Approach:

Differentiate your proposal by presenting an innovative and unique approach to addressing the identified need. Highlight any and all novel methods, technologies, or strategies that set your project apart and offer a fresh perspective on solving the problem statement at hand. Creativity and originality can capture the attention of grant reviewers and distinguish your proposal from others.

  1. Community Engagement:

Engage stakeholders and the broader community in the planning and development of your project. Demonstrate collaboration, partnership, and community involvement to showcase the relevance and importance of your initiative. Engaging stakeholders early on can foster support, build credibility, and enhance the sustainability of your project over the long term.

  1. Adequate Time and Planning:

Allocate sufficient time and resources to plan, develop, and submit a successful grant application. Rushed and hastily prepared applications are more likely to contain errors, overlook key details, and fail to effectively communicate the value proposition. Plan ahead, adhere to deadlines, and prioritise quality over quantity to maximise your chances of success.

Insider Advice from Grant Reviewers:

  • Budget Transparency: Ensure that your budget is transparent, realistic, and accurately reflects the costs associated with your project. Grant reviewers look for clarity and accuracy in budgeting to assess the feasibility and financial sustainability of your proposal.
  • Research and Due Diligence: Conduct thorough research and due diligence to support your proposal with credible data, evidence, and references. Demonstrating a solid understanding of the subject matter and existing research enhances the credibility and validity of your application.
  • Clear, Concise Application: Present your proposal in a clear, concise, and well-organised manner. Avoid jargon, unnecessary technical language, and verbosity. Grant reviewers appreciate clarity, coherence, and brevity in applications, making it easier for them to evaluate and assess your proposal.

Common Pitfalls to Avoid:

  • Insufficient Documentation: Ensure that your application is supported by adequate documentation, including project plans, financial statements, and supporting materials. Incomplete or missing documentation can undermine the credibility and reliability of your proposal.
  • Generic Proposals Without a Point-of-Difference: Tailor your proposal to the specific requirements and objectives of the grant program. Avoid submitting generic proposals that lack a clear point-of-difference or fail to address the unique needs and priorities outlined in the grant guidelines.
  • Lacking Client testimonials and Data: Incorporate client testimonials, case studies, and data-driven evidence to substantiate your claims and demonstrate the impact of your business achievements and goals. Quantifiable results and real-world examples strengthen your proposal and provide concrete evidence of your organisation’s capabilities and track record.

Implementing these key strategies, heeding insider advice, and avoiding common pitfalls can significantly enhance your chances of success in grant applications. By presenting a compelling case for funding, demonstrating alignment with grant objectives, and adhering to best practices in proposal development, businesses can secure the financial support needed to drive positive change, innovation, and growth.

Unlock a significant opportunity for your business with the R&D Tax Incentive. FundFindrs provides expert guidance for your businesses to navigate and capitalise on business funding growth opportunities. Book a free chat with our team to learn more about how this works.

Key Business Grants in Australia in 2024

Posted on by Jennifer Manuel

In 2024, the landscape of business grants in Australia continues to evolve. In an increasingly competitive market, these financial incentives provide a critical resource to enable expansion, innovation, and competitive pressure navigation. Grants can serve as economic empowerment and accelerators, offering vital support to navigate the challenges of today’s dynamic market and embrace opportunities for the future. Here, we delve into the foundational understanding of how business grants enable enterprises, provide an overview of available grants for all-size businesses, and highlight 2024’s focus on technology, sustainability, and traineeships.

Understanding Business Grants

Business grants play a pivotal role in fostering economic growth by providing financial assistance to eligible enterprises. Whether it’s funding for research and development, expansion into new markets, or adoption of innovative technologies or processes, grants offer crucial resources that can accelerate business initiatives. By reducing financial barriers and incentivising investment in strategic areas, grants empower businesses to innovate, compete, and thrive in a rapidly changing environment.

Moreover, business grants contribute to the broader goals of governments and policymakers, driving job creation, fostering industry competitiveness, and addressing societal challenges. As such, they represent a mutually beneficial partnership between the public and private sectors, with the ultimate aim of fostering sustainable economic development.

Overview of Available Grants for All Size Businesses

The Australian government, both at the federal and state levels, alongside various private foundations, offers a wide array of grants tailored to different industries, objectives, and company sizes. Economic empowerment can be critical during periods of strategic growth or pivoting, and also in the infancy of your business lifecycle. 

Common Business Grant Areas to Consider

  • Innovation and R&D Grants: Encouraging businesses to develop new technologies, products, and processes that enrich and enhance society. Innovation drives economic vitality and long-term business success. Innovation Accelerator grants reduce your innovation financial risk. Being at the forefront of creating new advancements enables businesses to develop unique products and services that redefine markets. Explore the possibilities of your research and development with FundFindrs. Let’s innovate together to give your business a brighter future.
  • Export and International Trade Grants: Supporting companies looking to expand their market reach beyond Australian borders, growing Australia’s global footprint. This enables competitive enhancement in both domestic and international markets. In turn, such grants help diverse businesses contribute to and benefit from global economies. 
  • Sustainability and Environmental Projects Grants: Funding initiatives that aim to reduce environmental impact and promote sustainability. Adopting eco-friendly operations, renewable energy, or waste reduction measures not only helps businesses align with evolving regulatory environments and consumer preferences but also contributes to global goals of sustainable development.
  • Employment Training and Skills Development Grants: Providing funds to enhance workforce skills and create new job opportunities. These grants can be pivotal in fostering equality and inclusion. A diverse-skilled and inclusive workforce enables businesses to serve more of the market through understanding more customer needs and enabling a ‘voice of your customer’ culture. Investing in human capital is crucial for business success, and necessary in the rapidly evolving labour market. 
  • Manufacturing and Infrastructure Grants: Assisting in the upgrade of facilities, equipment, and operational efficiencies, which can in turn drive sustainable practices. Infrastructure grants play a direct role in improving the quality of life for communities by enhancing access to essential services such as clean water, reliable energy, and efficient transportation. These improvements not only make daily life more convenient but also contribute to better health outcomes, greater educational opportunities, and increased economic mobility.
  • Technology Grants: Recognising the transformative power of technology, these grants support businesses in adopting digital solutions, implementing automation, enhancing cybersecurity measures, and harnessing emerging technologies like artificial intelligence and blockchain. This focus on innovation not only makes companies more competitive but also drives industry-wide advancements. Infrastructure grants can also support the integration of smart technologies into traditional systems, such as smart grids in energy distribution or intelligent transportation systems, enhancing efficiency and sustainability.

The landscape of business grants is both fast and varied, offering opportunities tailored to the specific needs and stages of business growth. However, navigating this landscape requires a clear understanding of the available grants, their eligibility criteria, and application processes. If you’re ready to explore how grants can support your business endeavors, consider reaching out to our expert team for personalised guidance and support.

 

Not sure if you’re eligible for the R&D Tax Incentive?
Our free Blueprint breaks it down with an eligibility checklist, examples, and expert tips from the FundFindrs team.

 

2024 Focus Areas: Technology, Sustainability, Adaptability and Traineeships

As businesses navigate the complexities of the modern economy, several key focus areas are emerging for grant funding in 2024. These include:

Technology Adoption: With digitalisation driving significant change across industries, businesses are encouraged to embrace technology adoption to enhance efficiency, productivity, and competitiveness. Grants supporting digital transformation initiatives, such as cloud computing, data analytics, and e-commerce platforms, are in high demand.

Sustainability Initiatives: Addressing environmental challenges and promoting sustainable practices are top priorities in 2024. Grants supporting renewable energy projects, circular economy initiatives, waste management solutions, and carbon reduction strategies are available to businesses committed to environmental stewardship.

Traineeships: Recognising the importance of investing in human capital, traineeship grants provide opportunities for individuals to gain valuable skills, industry experience, and career pathways through structured training programs, apprenticeships, and vocational education initiatives. Traineeships grant funding improves employability and supports your business in developing a skilled workforce. Furthermore, evident investment and interest in your people supports your talent retention. 

By combining work with training, you can reduce your training costs whilst nurturing your talent. Your talent can then drive efficiency to your business. This can also boost your brand recognition in the market as you offer employment opportunities and inclusion. Furthermore your business supports the economy by addressing skills shortages. 

Businesses can benefit from Traineeships grand funding for:

  1. Wage Subsidies: Governments or organisations cover a portion of the wages paid to trainees during their training period.
  2. Training Costs: Course fees, or qualification fees undertaken can be covered.
  3. Support Services: Additional services of mentoring, coaching, training equipment assistance can also be funded by certain grants. 

To benefit from any of the above you will need to submit a detailed training program, outlining the number of trainees, funding utilisation, and your eligibility and commitment to supporting the trainee through their development. 

Business grants in Australia are essential for fostering economic growth and innovation. FundFindrs fuels the growth of your business by securing grants. You’re accessing various services designed to maximise your business’s success with us.

 

 

The R&D Tax Incentive Unpacked: All your burning questions answered.

Posted on by Bruce Murray

Last reviewed: July 28, 2026

 

What’s the buzz around the Research and Development Tax Incentive (R&DTI)? Is it just another grant, or is there more to it?

For over four decades, the R&DTI has been a game-changer for Australian businesses, offering tax credits to cut down on research and development costs. It’s not just for the big players; startups and established companies in tech, manufacturing, pharma, agriculture and other industries can all benefit. By providing tax offsets for eligible R&D activities, the incentive fuels innovation and helps businesses grow and compete globally.

Let’s break it down with some practical insights and examples from experts to help you get the most out of the R&DTI.

 

In the next 8 minutes or so, we’ll comprehensively cover:

 

 

Key takeaways 

 

  • The R&D Tax Incentive (R&DTI) is a government program that provides tax offsets for eligible R&D activities, helping businesses reduce the cost of innovation.
  • The program is available to businesses of all sizes and across a wide range of industries, including technology, manufacturing, agriculture and pharmaceuticals.
  • Eligible businesses may be able to offset up to 43.5% of their R&D expenditure, improving cash flow and reducing financial risk.
  • The R&DTI is designed to encourage innovation, supporting businesses that invest in developing new or improved products, processes, services or technologies.
  • Understanding eligibility, claimable costs and application requirements is critical to maximising the value of the program.
  • R&DTI funding can be reinvested into future projects and business growth, helping companies continue innovating and scaling.

 

 

R&D Tax Incentive

1 – What is the R&D Tax Incentive?

The Research and Development Tax Incentive (R&DTI) is a government program that provides a tax offset to Australian businesses that are engaged or planning to invest in eligible R&D activities. The primary aim of the program is to encourage innovation by reducing the financial risks associated with R&D projects, thereby stimulating advancements across various industries.

 

By participating, businesses like yours can significantly recover some of their investments, offsetting a portion of the costs associated with their R&D endeavours. This incentive stimulates innovation across various industries by reducing the financial risks associated with R&D projects while allowing business owners to make ambitious projects more feasible and less financially daunting.

 

2 – Why Should You Apply for the R&DTI and Is It Worth It?

Wondering why you should apply for the R&DTI and what its benefits are? The Research & Development Tax Incentive can become much more than just a financial incentive for your business in Australia. It’s an opportunity to propel your company forward and ensure long-term success.

 

Here are just 3 reasons why you should seriously consider it:

  • Financial Relief: You can offset up to 43.5% of your R&D costs, providing a substantial reduction in your overall expenses.
  • Growth Potential: The financial benefits can be reinvested into your business, fuelling further innovation and expansion.
  • Collaboration: Partnering with registered Research Service Providers can enhance your R&D efforts and outcomes, driving your projects to new heights.

 

3 – What R&D Costs Can Be Claimed?

The R&D tax benefits cover a variety of costs associated with research and development activities, making it easier for businesses to manage their expenses.

 

Some examples of eligible costs could include:

  • Employee Wages: Salaries and associated costs (such as superannuation) for employees directly involved in R&D activities.
  • Materials and Equipment: Costs of materials and equipment used specifically for R&D projects.
  • Testing Expenses: Expenditures related to testing and experiments conducted as part of your R&D.
  • Overheads: Relevant overhead costs that can be attributed to R&D activities such as subscriptions, phone and internet bills and even rent.

 

Examples of eligible R&D costs

 

A careful examination of each eligible cost ensures that businesses make the most of this opportunity, enhancing the financial benefits derived from R&D activities.

 

4 – How Much Can You Claim?

The golden question: how much can you receive under the R&DTI?

 

The answer is – up to 43.5% of your Research and Development costs from the previous financial year. The exact amount you can claim through varies based on your business’s turnover:

  • Businesses with less than $20 million turnover: The refundable R&D tax offset is your corporate tax rate plus an 18.5% premium.
  • Businesses with more than $20 million turnover: The non-refundable R&D tax offset is your corporate tax rate plus an incremental premium.

 

Let’s look at two examples:

  • A business with a $5 million turnover spending $250,000 on R&D in one financial year with a corporate tax rate of 30%, could be eligible for a $121,250 refund.
  • A business with a $25 million turnover spending $500,000 on R&D in the last financial year with a 30% corporate tax rate, could be eligible for $192,500 to $232,500, depending on their R&D intensity which informs the incremental premium.

 

To get a rough indication of the amount your business can receive, utilise this free R&D Tax Incentive calculator.

 

Not sure if you’re eligible for the R&D Tax Incentive?
Our free Blueprint breaks it down with an eligibility checklist, examples, and expert tips from the FundFindrs team.

 

5 – Is There a Minimum Spending Requirement?

Currently, businesses need to have a minimum R&D spend of $20,000 to qualify for this valuable incentive. This spending threshold is a key factor to consider as you explore the potential benefits and opportunities that the R&D Tax Incentive can bring to your business. Collaboration with registered Research Service Providers (RSPs) is often beneficial, as you don’t have to reach the minimum spend threshold to claim the R&DTI if you use an RSP.

 

6 – Are You Eligible?

If you’ve made it this far, you might be considering: “Is my business eligible for this Incentive?” Let’s find out.

 

Eligibility for the R&D Tax Incentive is designed to be accessible to a wide range of businesses. To qualify, your business must be:

  • Incorporated in Australia: Alternatively, if your business is under foreign law but conducts eligible R&D activities in Australia, you may still qualify.
  • Meeting the Spending Threshold: Your business must spend over $20,000 on eligible R&D activities in a financial year. This ensures that the incentive supports substantial and impactful research and development efforts.
  • Conducting R&D Activities: Your company needs to be conducting or planning to conduct at least one eligible R&D activity. Those activities can attempt to generate new/improved products, services, and processes or can be conducted to support them.

 

There are other main criteria and requirements to determine your eligibility and guide you through the identification of a Core or Supporting R&D Activity. To find out if your business could be eligible for the R&DTI get in contact with our team of experts to book a FREE meeting.

 

7 – What are the most common industries that typically apply for the R&DTI?

Companies from many industries can benefit from the R&D Tax Incentive to drive innovation and growth to their business. It’s common to see technology and software development companies leverage the incentive to fund advancements in digital solutions, enhancing efficiency and user experience.

 

Other frequent examples are engineering and manufacturing companies which also heavily invest in innovation through the incentive, fostering the development of new products and processes that improve productivity and competitiveness. Additionally, companies from agriculture, mining, biotechnology, renewables, and other sectors typically submit their applications to the R&D Tax Incentive to help them innovate and create new services/products.

 

Common industries applying for R&DTI

 

While these industries have traditionally been prominent users of the program, the scope of eligible activities is broad, inviting exploration from other sectors keen on advancing through research and development. The R&D Tax Incentive boasts a substantial fund exceeding $1 billion, offering an expansive resource for all types of businesses.

 

8 – How simple is the R&DTI Application Process?

Applying for the R&D Tax Incentive involves several key steps to ensure that your application is thorough and accurate and can look like the following:

  1. Assess Eligibility: Review the program’s criteria to confirm that your business qualifies, and your R&D activities are eligible.
  2. Prepare Documentation: Compile detailed records of the nature and scope of your R&D activities, including financial statements and project descriptions.
  3. Submit Application: Submit your completed application to the Australian Taxation Office (ATO) and the Department of Industry, Innovation, and Science. You must submit your application within 10 months after the end of the financial year.

 

Maybe you are thinking: “There are too many steps involved in this process and I don’t have time to do so, so should I bother applying?”

 

Although there are a handful of steps involved in applying for the R&D Tax Incentive, keep in mind all the potential benefits quite outweigh the time spent doing so. Additionally, we can relieve the pressure from your shoulders. One way to boost your chances of success is by letting our team of experts handle the entire process for you. Book a free consultation to get the information and support you need to confidently complete your R&DTI claim.

 

9 – What’s the Timeline from Applying to Receiving the R&DTI Funds?

Now that we’ve covered the details of the Research and Development Tax Incentive, the next question naturally revolves around understanding the timeline and all its steps—from the day you apply to the moment the refund lands in your account. This understanding is crucial to effectively plan your finances and, possibly, bring forward your plans to growth and (re)invest.

 

Applications typically run from 1 July to 30 April of the following financial year. For instance, if you’re claiming for the financial year 1 July 2023 – 30 June 2024, you can apply from 1 July 2024 to 30 April 2025. Once approved, funds usually reach your account within a few weeks to a couple of months, providing timely financial support to your business.

 

You can streamline this process and strategically optimise your outcome by count with our support. The FundFindrs team is ready to assist you through this process, allowing you to reinvest funds into your business as quickly as possible.

 

10 – How to Maximise Your R&DTI Claim?

Are you ready to take most advantage of the Research & Development Tax Incentive (RDTI)? there a several ways to maximise your claim and make sure your process is thorough and solid. Here are some tips:

  1. Stay abreast of any changes to the program. Any recent changes that may impact your eligibility or the benefits you can receive will be carefully considered in your unique strategy. An easy way to stay on top is signing up for our Newsletter and following us on LinkedIn, Facebook and Instagram. We stay informed, so you don’t have to.
  2. Keep your records organised in a systematic way. Having well-organised documentation not only strengthens your claim but simplifies the RDTI process.
  3. Examine your expenditure with maximum attention to allocate all possible expenses to streamline your claim.
  4. Use a checklist to ensure you are claiming the R&DTI correctly according to the legislation minimising compliance risks. The catch to better securing this grant? Nailing your application.
  5. Navigate the complex process with an expert team like FundFindrs. We’ll handle the application pressure and ensure you get the most out of your R&D efforts.

 

How to maximise your R&DTI claim

 

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Before You Go

Don’t let your innovation go unrewarded. Unlock your next phase of growth with the Australian R&D Tax Incentives by reaping its countless benefits. Whilst the application process is detailed, the returns are well worth the investment.

 

So do your business (and yourself) a favour and get applying! And as always, the FundFindrs team is here to assist you through the entire process as well as any other queries or questions.

 

Simply send us an email or give us a call at (02) 9072 1720 at anytime and we’ll get back to you ASAP.

Top 5 Government Grants for Australian Manufacturing Companies to Boost Innovation in 2024-25

Posted on by Kate Downing

There is no doubt that Government grants offer vital support to drive innovation, improve competitiveness, and strengthen the nation’s economic growth. As advanced manufacturing emerges as a core pillar of Australia’s industrial future, businesses in this industry are increasingly embracing cutting-edge technologies such as automation, robotics, and data-driven processes. This transformation not only boosts productivity and efficiency but also positions Australian manufacturers to excel on a global scale.

 

However, the journey to becoming globally competitive is not without challenges. Scaling up, integrating new technologies, and navigating industry shifts require both strategic guidance and financial backing. Recognising this, it’s essential for manufacturing leaders to take advantage of the right grants, break down their requirements, and execute successful applications to maximise growth potential and drive long-term success.

 

In this article, we’ll explore five key grants available to Australian manufacturers, providing crucial financial resources to foster innovation, build capacity, and propel industry advancement.

 

  1. Made in Queensland (MIQ) Grant
  2. Advanced Manufacturing Accelerating Growth Program (TAS)
  3. Advanced Manufacturing Ecosystem Fund (AME)
  4. Manufacturing Hubs Grant Program (MHGP)
  5. Research and Development (R&D) Tax Incentive

 

1. Made in Queensland (MIQ) Grant

Matched funding to boost Queensland manufacturers’ competitiveness

 

Key Details

  • Closing by: 24 January 2025
  • Funding Available: Matched funding ranging from $50,000 to $2.5 million
  • Target Recipients: Queensland-based small to medium manufacturers

 

Overview

The MIQ grant supports Queensland manufacturers in adopting advanced equipment, technologies, and innovative processes. The focus includes energy efficiency, export growth, reshoring initiatives, supply chain enhancements, sustainability measures, and decarbonisation.

 

This $121.5 million program aims to drive productivity, international competitiveness, and high-skill job creation within the manufacturing sector. Since its inception in 2017, MIQ has backed 160 manufacturing projects statewide.

 

Eligibility Criteria

Businesses must:

  • Be based in Queensland with primary revenue derived from manufacturing
  • Have an active Australian Business Number (ABN) and be registered for goods and services tax (GST)
  • Be a small to medium enterprise employing 5-200 full-time equivalent (FTE) staff, with at least five FTEs in Queensland
  • Propose a project meeting program guideline
  • Cover at least 50% of the project costs

 

2. Advanced Manufacturing Accelerating Growth Program (TAS)

Support for capital equipment purchases by Tasmanian manufacturers

 

Key Details

  • Closing by: 6 January 2025
  • Funding Available: Up to $100,000
  • Grants will be provided on a co-contribution basis of 50% (grant), 50% minimum (applicant)
  • Target Recipients: Tasmanian-based advanced manufacturing enterprises

 

Overview

This program provides funding assistance to Tasmanian advanced manufacturers, enabling them to purchase capital equipment that boosts productivity and business growth. By fostering innovation, the initiative aims to strengthen Tasmania’s manufacturing industry and elevate its competitive edge.

 

The matched funding available is competitively based and assessed on the stated criterion. Eligible expenditure can cover commissioning costs, as well as plant and equipment to be used in the manufacturing process.

 

Eligibility Criteria

Businesses must:

  • Operate within Tasmania’s advanced manufacturing sector
  • Demonstrate project alignment with program objectives
  • Have an active Australian Business Number (ABN) and be registered for goods and services tax (GST)
  • Have annual sales turnover greater than $500,000 and less than $55 million

 

3 – Advanced Manufacturing Ecosystem Fund (AME)

Promoting the Northern Territory’s advanced manufacturing capacity

 

Key Details

  • Closing by: 30 June 2026
  • Funding Available: Matched funding of between $25,000 and $500,000
  • Eligible Businesses: Northern Territory-based manufacturers

 

Overview

This fund supports projects that enhance the Northern Territory’s advanced manufacturing ecosystem. The initiative seeks to drive local industry growth, foster collaboration, and develop a skilled workforce, focusing on sustainable and innovative manufacturing solutions.

 

Support is available for NT projects that are focused in commercialise new products, including transition innovations from prototype to full-scale operations (Stream 1), and advance early-stage or pilot research in advanced manufacturing (Stream 2).

 

Eligibility Criteria

Businesses must:

  • Be based in the Northern Territory
  • Present projects that significantly contribute to regional advancement advanced
  • Have an active Australian Business Number (ABN), an Australian company number (ACN) and be registered for goods and services tax (GST)
  • Be an Australian manufacturing enterprise with up to 199 employees
  • Be non-tax-exempt

 

Top 5 Grants for Australian Manufacturing Companies in 2024-25

 

4 – Manufacturing Hubs Grant Program (MHGP)

Funding to boost Queensland’s regional manufacturing capabilities

 

Key Details

  • Closing by: 30 June 2025, or until all funding is allocated
  • Funding Available: Matched funding between $10,000 and $500,000
  • Eligible Businesses: Small to medium Queensland-based manufacturers

 

Overview

This program supports manufacturers in key Queensland regions by providing funding to enhance competitiveness, productivity, and innovation. Grants focus on skills development, technology adoption, and business development, driving regional manufacturing growth.

 

The $33.5 million Manufacturing Hub Grant Program (MHGP) offers grants to eligible businesses in the Cairns, Central Queensland, Gold Coast, Mackay, and Townsville SA4 regions.

 

Eligibility Criteria

Businesses must:

  • Be a Queensland-based SME
  • Have the main operations located in one of the eligible Queensland SA4 regions
  • Have an active Australian Business Number (ABN) and be registered for goods and services tax (GST)
  • Have been operating in Queensland for at least 3 consecutive years before applying

 

5 – Research and Development (R&D) Tax Incentive

Tax support for Australian companies undertaking R&D

 

Key Details

  • Closing by: 30 April 2025 for FY24 claims (reopens on 1 July 2025 for FY25 claims)
  • Funding Available: Tax offset (refundable or non-refundable) for eligible R&D expenses, with varying rates depending on company size and annual turnover
  • Eligible Businesses: Australian entities engaging in Research and Development activities

 

Overview

The R&D Tax Incentive offers up to 43.5% tax offsets to support Australian companies investing in R&D. It aims to encourage businesses to undertake innovative projects, develop new products or processes, and enhance competitiveness on a global scale. The program covers a range of eligible R&D activities aligned with government guidelines.

 

Eligibility Criteria

To qualify, businesses must conduct eligible R&D activities as defined by program requirements and be incorporated in Australia.

 

Want to learn more about the R&D Tax Incentive? Fill out the form below to explore program details, eligibility requirements, and find out how our team of experts can help your business claim up to 43.5% of your research and development costs.

 

By leveraging these grants, Australian manufacturers can drive economic diversification, job creation, and technological advancement — positioning Australia as a global manufacturing leader. Navigating complex eligibility requirements and maximising grant outcomes can be challenging, which is why having a knowledgeable partner is essential.

 

This is where FundFindrs excels. As experts in manufacturing grants, we provide comprehensive support — from identifying the best funding opportunities to crafting impactful applications and offering ongoing strategic guidance. With FundFindrs by your side, you can confidently secure essential funding, foster innovation, and elevate your business within the advanced manufacturing sector. Let us help unlock your potential and achieve lasting success. Contact us to get started.

 

 

Mastering the R&D Tax Incentive: expert tips for eligibility, air-tight applications and claim success

Posted on by Bruce Murray

Last reviewed: July 17, 2026

 

Bruce Murray, FundFindrs R&D Consultant, shares key insights on qualifying, capturing eligible costs, and ensuring your business is ready to successfully claim the R&DTI

 

Navigating the Research and Development Tax Incentive (R&DTI) program can be complex, but with the right guidance, it is an invaluable funding opportunity to support business innovation and growth. According to the Australian Taxation Office, in the 2021–22 income year, over 11,500 companies in Australia claimed R&D expenditures totalling $11.2 billion, highlighting the program’s significant role in fostering innovation across various industries.

 

To help businesses better understand how to maximise this opportunity, we’re tapping into the expertise and knowledge of Bruce Murray, the lead for our R&D Team, who holds extensive experience both with the program itself and in guiding businesses through successful claims.

 

In this first interview, Bruce shares practical insights on aligning R&D strategies with long-term business goals, common challenges first-time claimants face, and effective methods to ensure all eligible costs are captured.

 

  1. Background & Experience
  2. Aligning R&D Strategy with Business Goals
  3. Key Industries & Sectors for R&D Tax Incentive
  4. Advice for First Time Applicants
  5. Advice for Repeat Applicants
  6. Working with Companies & Role of Collaboration

 

 

Key takeaways 

 

  • The R&D Tax Incentive can help businesses reinvest in innovation, supporting ongoing R&D activities and growth.
  • Aligning R&D activities with business objectives can help maximise the value of the program.
  • Understanding what qualifies as eligible R&D is critical, particularly when planning projects and preparing a claim.
  • Capturing all eligible expenditure is important, requiring accurate tracking and documentation throughout the year.
  • First-time and repeat claimants face different challenges, making a clear understanding of the program essential.
  • Strong collaboration between technical and financial teams can improve claim quality and support compliance with program requirements.

 

 

1. Could you please share a bit about your background and experience in guiding businesses through the R&D Tax Incentive program?

Certainly. I hold a Bachelor of Commerce with a major in accounting and a sub major in law, along with a Graduate Diploma of Applied Corporate Governance from the Governance Institute of Australia.

 

I have previously worked within the Department of Industry, Science and Resources (AusIndustry), where I was directly involved in the R&DTI program — reviewing applications and assisting businesses in understanding eligibility criteria and regulatory requirements. This hands-on experience has given me a deep, practical understanding of the program and how businesses can leverage it effectively. Since then, I have been applying this experience to support FundFindrs clients to ensure their claims air-tight and meet the legislative requirements.

 

Outside of this, I have spent part of my career in corporate governance, compliance and risk management, which are also valuable skills that I bring to the R&DTI process.

 

2. Can you provide examples of how a company can align its R&D strategy with its overall business goals to leverage the R&D Tax Incentive effectively?

Overall, the R&DTI program provide significant tax rebates for eligible R&D expenditure, allowing businesses to reinvest in innovation and contribute to strategic growth. R&DTI rebates provide companies with the financial flexibility to pursue advancements that not only drive progress but also support their long-term business objectives.

 

For example, a manufacturing company could use the R&DTI program to explore more efficient production techniques, reducing waste and improving sustainability — all of which may align with broader corporate goals. The key to maximising the benefits of the government program is to embed R&D as a core component of the business strategy rather than treating it as a separate cost activity.

 

Bruce Murray's key tip on the R&D Tax Incentive

 

3. Are there particular industries or sectors that you believe can benefit more significantly from the R&D Tax Incentive, and why?

Yes, while the R&DTI program is industry-agnostic and open to businesses of varying sizes and sectors, certain industries tend to benefit more due to the nature of their operations. Sectors such as pharmaceuticals, biotechnology, software development, renewable energy, agriculture, and advanced manufacturing often have innovation embedded in their core activities. For instance, the pharmaceutical and biotech industries are heavily involved in product development and clinical trials, which naturally align with R&DTI criteria. Similarly, software companies engaged in developing new technologies or platforms often qualify.

 

However, the program isn’t limited to high-tech fields — innovative practices in agriculture, construction, and food production can also qualify. From small startups and SMEs to significant major corporations, a range of businesses can be eligible for the program. It’s a matter of understanding and establishing eligibility.

 

4. What advice would you give to a company considering applying for the R&D Tax Incentive for the first time?

For first-time claimants, my primary advice is to focus on accurate record-keeping and documentation retention from the start. Capturing eligible R&D costs throughout the year can be challenging if not planned properly. Businesses may set up dedicated project codes or a unique cost centre in their accounting system to distinguish R&D expenses from general operational expenses.

 

Evidence is key. Maintaining detailed financial records — such as timesheets, depreciation schedules, and invoices — will make it significantly easier to compile the required documentation when finalising a claim. Clear and well organised proof of evidence are crucial to demonstrate compliance with the R&DTI program’s requirements and maximise the rebate.

 

Bruce Murray's top tips for first-time and repeat R&DTI applicants

 

5. For businesses already familiar with the program, how can they improve or optimise their claims?

For businesses with prior R&DTI experience, my advice is to maintain a proactive approach to documentation and review. Continue using dedicated account codes and cost centres to track R&D expenses. However, to further optimise claims, consider implementing periodic reviews throughout the financial year rather than waiting until year-end. This assists in allowing to identify any gaps in documentation early and ensures all eligible activities and expenses are captured. Additionally, staying informed about any regulatory updates to the R&DTI program is essential to maintain compliance and maximise claim value.

 

Maximise Your R&D Tax Incentive Claim. FundFindrs’ specialist consultants can help identify all eligible expenses and optimise your application.

BOOK NOW

 

6. How do you typically work with companies, and what role does collaboration play in ensuring a successful application?

When it comes to financials, close collaboration ensures that all eligible R&D costs are identified, documented, and factored into the application, minimising the risk of missing out on valuable rebates. We also emphasise the importance of maintaining thorough records and evidence throughout the year, making the claims process smoother and more effective due to our regular communication.

 

Keeping an open dialogue is paramount in the way the FundFindrs’ team collaborates with businesses. Our role goes beyond simply preparing the application — we focus on truly understanding our clients’ business and projects through open, transparent discussions. This collaborative approach allows us not only to build a compelling case that accurately reflects the innovative work being conducted but also allows us to give valuable advice on an ongoing basis. Further, the better we know our clients, the more we are able to assist with identifying additional grants and funding opportunities that are suitable to help drive growth.

 

Not sure if you’re eligible for the R&D Tax Incentive?
Our free Blueprint breaks it down with an eligibility checklist, examples, and expert tips from the FundFindrs team.

 

 

At FundFindrs, we’re dedicated to making the R&D Tax Incentive application straightforward and stress-free for businesses like yours. From identifying eligible R&D activities to accurately capturing costs and preparing fully compliant applications, we help you focus on what matters most —innovation — while we handle the complexities behind the scenes. If you’re considering an R&DTI claim or simply want to ensure you’re maximising your return, Bruce together with our expert team are here to guide you. Take advantage of our FREE initial consultation.

Key Grants for Food and Beverage Companies in Australia

Posted on by Kate Downing

Last reviewed: July 17, 2026

 

Government funding plays a fundamental role in driving growth, innovation, and operational improvements within Australia’s Food & Beverage sector. With a broad range of grants available, businesses can struggle to identify the opportunities that best align with their unique needs.

 

In this article, we outline several key grants selected specifically for Food & Beverage companies, covering initiatives from safety enhancements to strategic investment. Each program is designed to help businesses elevate their operations, expand their capabilities, and invest in critical infrastructure.

 

  1. Distillery Door Programs – Hazardous Areas and Dangerous Goods Rebate
  2. Wine Exports China Re-Engagement Support Program
  3. Value Add Investment Grants Program (VAIG) – Feasibility Stream

 

 

Key takeaways 

 

  • Government grants can help Food & Beverage businesses improve safety, expand operations and invest in growth initiatives.
  • Funding opportunities are available across multiple areas, including workplace safety, export market development and value-add manufacturing projects.
  • Many grants are highly targeted, with specific eligibility criteria based on industry, location and business activities.
  • Co-contributions are often required, meaning businesses should be prepared to invest alongside government funding.
  • Export-focused programs can support market expansion, helping businesses strengthen their presence in international markets.
  • Planning ahead is essential, as grant programs have different funding limits, application requirements and closing dates.

 

 

1. Distillery Door Program – Hazardous Areas and Dangerous Goods Rebate

Enhancing safety in Victoria’s distilleries with essential rebates

 

Key Details

  • Closing by: 30 June 2025
  • Funding Available: Up to $50,000
  • Target Recipients: Distillers of alcoholic beverages in Victoria

 

Overview

This program assists Victorian distillers in investing in essential equipment and infrastructure to enhance safety in their facilities. It offers a rebate on eligible expenditure — up to 70% or 80% (GST exclusive), capped at $50,000 — while requiring a cash co-contribution of 20% or 30% depending on production volumes.

 

As part of a $20 million initiative to support Victoria’s distillery industry, the program funds activities such as hazardous area assessments, equipment installation, and specialist training, ensuring that all upgrades comply with Australian Standards and regulatory requirements.

 

Eligibility Criteria

Businesses must:

  • Hold a current Australian Business Number (ABN) and be registered as a legal entity in Victoria.
  • Own at least one still with a capacity of 50 litres or more.
  • Possess a valid ATO Manufacturer’s Licence and a current Victorian General or Producer’s Liquor Licence.
  • Have completed a hazardous area assessment, dangerous goods audit, OHS Essentials Program, or equivalent assessment undertaken from 1 April 2023 until closing date.
  • Meet the required cash co-contribution based on their production level.
  • Agree to participate in future program evaluation activities and comply with relevant workplace and employment obligations.

 

2. Wine Exporters China Re-Engagement Support Program

Supporting SA wine exporters to re-access China’s market

 

Key Details

  • Closing by: Program runs until June 2026
  • Funding Available: Approximately $1.9 million total funding pool
  • Target Recipients: South Australian wine exporters

 

Overview

This program is designed to help South Australian wine exporters re-enter the Chinese market following the lifting of tariffs on Australian wine. It delivers strategic support through market insights, export advisory services, coordinated trade missions, and targeted marketing campaigns.

 

Implemented by the South Australian Government in partnership with the South Australian Wine Industry Association (SAWIA), the program aims to revitalise international trade relationships and strengthen the region’s wine sector.

 

Eligibility Criteria

Businesses must:

  • Be a registered South Australian wine exporters with a valid ABN.
  • Demonstrate active engagement in exporting wine internationally.

 

 

3. Value Add Investment Grants Program (VAIG) – Feasibility Stream

Empowering WA food and beverage businesses with feasibility funding

 

Key Details

  • Closing by: 30 June 2025
  • Funding Available: Individual grants from $15,000 to $100,000 (up to $500,000 per project; total pool of $6 million)
  • Target Recipients: Agriculture, food, and beverage businesses in Western Australia

 

Overview

The VAIG – Feasibility Stream supports WA-based agriculture, food, and beverage businesses planning to expand, diversify, or relocate their value-add processing operations. This program funds planning and feasibility studies that underpin investments in new manufacturing capabilities, technology upgrades, or plant modernisation. By reducing WA’s reliance on imported products, the initiative fosters innovation, enhances sustainability, and drives job creation. Applicants are required to provide a minimum cash co-contribution of 30%, with some flexibility available for Aboriginal businesses.

 

Eligibility Criteria

Businesses must:

  • Be a private sector entity (including incorporated trustees, public companies, or cooperatives) with a valid ABN and GST registration.
  • Plan a project located in or relocating to Western Australia.
  • Demonstrate the financial capacity to meet the minimum cash co-contribution.
  • Have been in operation for at least 12 months (or possess a similar established track record).
  • Be capable of entering into a legally binding agreement with the WA Government.
  • Regional and Aboriginal businesses are encouraged to apply.

 

Reminder: Don’t Miss the R&D Tax Incentive (R&DTI)

 

The Research and Development Tax Incentive is a powerful mechanism that offers significant tax offsets and cash refunds for eligible R&D activities, easing the financial risks of innovation. Despite its benefits, many Food & Beverage companies are overlooking this opportunity. Leveraging the R&D Tax Incentive not only reduces R&D costs but also positions your business to drive technological advancements and compete globally.

 

Ensure you assess your eligibility and consider expert advice to fully integrate this incentive into your financial strategy for sustained growth and market leadership. Learn more about the R&DTI Program by visiting our dedicated page.

 

Food and Beverage Funding Opportunities for Australian Businesses

 

The grants listed above represent just a snapshot of the funding opportunities available to support the growth and innovation of Food and Beverage companies in Australia. If you’re looking to explore these options further and strengthen your market position, our team of experts is here to help.

 

With the complexities of the application process, partnering with experienced advisors is essential. That’s where FundFindrs comes in — we support you every step of the way. Book a FREE chat today for a tailored consultation.

 

 

Mastering the R&D Tax Incentive: top mistakes to avoid with your application

Posted on by Bruce Murray

Last reviewed: July 17, 2026

 

Navigating the Research and Development (R&D) Tax Incentive doesn’t have to be a headache if you know what pitfalls to avoid. We spoke with Bruce Murray, R&D Consultant at FundFindrs, who shares a list of the most common R&DTI application mistakes and, more importantly, how to prevent them.

 

The R&DTI is an invaluable funding opportunity, supporting business innovation and growth. Yet many companies struggle with eligibility criteria, fail to maintain proper records, or underestimate the importance of early submission — all of which can lead to application delays or rejections.

 

With extensive experience in R&D compliance and successful claims, Bruce gives us a rundown of common application mistakes and highlights what businesses can do to increase their chances of a smooth, stress-free successful application.

 

  1. What are some common mistakes companies make when preparing their R&D Tax Incentive application?
  2. Why are some R&D Tax Incentive applications rejected?
  3. What might first-time R&DTI applicants overlook when determining eligible projects?
  4. What are the most common mistakes companies make in documenting their R&D activities? What specific aspects do they frequently neglect?
  5. How does the submission deadline for the R&DTI impact businesses?

 

 

Key takeaways 

 

  • Poor record-keeping can make it difficult to substantiate an R&D Tax Incentive claim, making accurate and contemporaneous documentation essential.
  • Not all innovative work qualifies for the R&D Tax Incentive. Activities must satisfy the program’s legislative requirements and eligibility criteria.
  • Strong claims are supported by evidence, including documented methodologies, experiments, outcomes and quantifiable data.
  • Claims may be deemed ineligible when supporting evidence is insufficient to demonstrate eligible R&D activities.
  • Correctly identifying eligible projects is critical, particularly for first-time applicants navigating the program requirements.
  • Early preparation provides more time to gather evidence, address documentation gaps and strengthen a claim.

 

 

1. What are some common mistakes companies make when preparing their R&D Tax Incentive application?

One of the most common mistakes companies make is failing to keep adequate records of their R&D activities. Many businesses do not document their R&D activities thoroughly, leading to gaps in the evidence required to document and substantiate their claims.

 

Another key issue is the misunderstanding of what constitutes eligible R&D under AusIndustry’s definition. What a company considers innovative or experimental may not necessarily align with the program’s criteria. This is where an R&D Consultant plays a vital role, helping businesses interpret and meet the eligibility requirements correctly.

 

Companies also sometimes lack scientific metrics to support their claims. Without proper quantifiable data documentation of methodologies, experiments and outcomes, an application may fall short of addressing the necessary criteria.

 

Bruce Murray, Research and Development Consultant, FundFindrs R&D Tax Incentive Tips

 

2. Why are some R&D Tax Incentive applications rejected?

The primary reason applications are rejected is a lack of evidence demonstrating eligible R&D activities. Each application is assessed on its own merits. If it fails to meet legislative criteria, it will not be approved.

 

To ensure success, companies must provide clear experimental evidence, including quantifiable data and methodologies. This involves tracking changes and improvements throughout the R&D process, showing what the data indicated before the project began and how it evolved because of the R&D efforts.

 

Ultimately, applications need to demonstrate a structured, scientific methodology to problem solving and innovation. Without this, even genuinely innovative work may not qualify for the incentive.

 

3. What might first-time R&DTI applicants overlook when determining eligible projects?

It is important that any business considering applying for the R&DTI understands the definition of eligible R&D activities. This definition comes from the legislation, rather than being based on what a company may consider R&D activities.

 

Once a company understands the definition of eligible R&D activities, it is important to isolate those R&D activities from general project activities. This is something businesses may overlook and therefore subsequently find challenging. Part of what we do is assist our clients with the clarification and direction to ensure eligible activities are not missed.

 

4. What are the most common mistakes companies make in documenting their R&D activities? What specific aspects do they frequently neglect?

We have found that some companies have done the experimental research required, and it would meet the criteria of what is eligible. However, they are let down by record keeping. It is very important to keep track of research evidence in each aspect of the research.

 

An example of this would be engaging an external consultant. Where an external person is engaged to deliver an outcome requiring research, the company engaging the consultant should include the experimental and research evidence in the plans and working documents of the project. These records should be maintained to demonstrate the research involved, not simply the engagement of another party to carry out the work.

 

Without this record of work, and detailed account of the activities, an application will likely be rejected.

 

FundFindrs can assist with your R&DTI application making sure all eligible activities are appropriately accounted for.

CONTACT US

 

 

5. How does the submission deadline for the R&DTI impact businesses?

We can all identify with the pressure an approaching deadline brings, and we always recommend applying for the R&D Tax Incentive sooner rather than later. One common mistake businesses make is underestimating the time required to prepare a strong application, often assuming they have plenty of time within the 10-month window provided by AusIndustry — from 1 July following FYE to the final submission deadline of 30 April. However, many companies face competing priorities, such as business development, compliance, finance, and marketing, which can lead to last-minute submissions.

 

Delaying an R&DTI application can result in several negative consequences, including a delayed rebate due to longer processing times, increased administrative workload when processing tax adjustments after lodging the Company Tax Return (CTR), and reduced cash flow, which can impact overall business operations. To avoid these pitfalls, businesses should aim to submit their applications as early as possible following the end of the financial year.

 

Not sure if you’re eligible for the R&D Tax Incentive?
Our free Blueprint breaks it down with an eligibility checklist, examples, and expert tips from the FundFindrs team.

 

 

FundFindrs is here to help. Get in touch if you want to chat about how our team can collaborate with your business and guide your R&DTI application. Additionally, we can support identifying other funding opportunities through grants. Book a FREE chat with one of our specialist consultants now.

Business Tips for FY27: Empowering Australian SMEs for success

Posted on by FundFindrs

Last reviewed: July 17, 2026 

 

The Australian business landscape is experiencing a significant surge in entrepreneurial activity, with 97% of all businesses classified as small businesses according to the Australian Small Business and Family Enterprise Ombudsman (ASBFEO). This shift reflects a broader trend where innovation, adaptability, and strategic funding are essential for business growth regardless of size or industry.

 

As we move into a new financial year (FY27), small to medium-sized enterprises (SMEs) must proactively secure funding, embrace AI, and adapt to emerging market trends to stay competitive. Whether you’re launching a startup, scaling an existing business, or investing in digital transformation, understanding available resources is crucial.

 

This guide provides expert insights into the most relevant business strategies, funding opportunities, and industry trends shaping the next financial year. From R&D Tax Incentive (R&DTI) and business grants to AI-driven efficiency and industry-specific funding, we’ve compiled the most critical tips to help your business succeed in the next 12 months.

 

  1. Embrace AI & Digital Transformation
  2. Secure Grants & Funding for Business Growth
  3. Focus on Industry-Specific Growth Areas
  4. Strengthen Cash Flow & Financial Resilience
  5. Engage with Industry Associations & Networks
  6. Build a Strong Online Presence
  7. Maximise Your Business Potential with Award Recognition

 

 

 

Key takeaways 

 

  • AI and automation are becoming essential growth drivers, helping SMEs improve productivity, efficiency and decision-making.
  • Grants, funding programs and the R&D Tax Incentive can support business growth, innovation and digital transformation initiatives.
  • Industry-specific opportunities continue to emerge, making it important to align growth plans with market and funding trends.
  • Strong cash flow and financial resilience remain critical for sustainable business growth.
  • Industry networks and associations can provide valuable connections, insights and opportunities for SMEs.
  • A strong online presence and market visibility help businesses remain competitive in a rapidly changing environment.
  • Awards and recognition can strengthen credibility, improve brand awareness and support business growth.

 

 

1. Embrace AI & Digital Transformation

Let’s start with the trend topic of the moment: AI and automation are becoming essential growth drivers for SMEs, and businesses that embrace them will gain a competitive edge.

 

According to the Tech Council of Australia, AI is expected to be the defining technology trend in 2026, with business leaders increasingly viewing it as a key driver of operational efficiency and cost savings. Additionally, the Australian Parliament has highlighted AI and automated decision-making as crucial for boosting productivity and economic growth.  

 

FundFindrs Tip | SMEs can benefit from AI & automation by using: 

How can Australian SMEs use AI and automation to grow in FY27?
  • AI-powered analytics tools to help businesses optimise cash flow, predict market trends, and manage risk.
  • Automation tools to reduce administrative burden, freeing up time for strategic growth.
  • AI-driven chatbots and virtual assistants to enhance customer service while reducing operational costs.
  • Cybersecurity automation to protects businesses from increasing digital threats.

 

Did you know? There are several government-backed grants and incentives for businesses investing in AI, automation, and digital transformation, making now the perfect time to explore those funding options.  

 

2. Secure Grants & Funding for Business Growth  

What grants and funding programs are available for Australian SMEs in FY27?

There are thousands of grants available for SMEs across various industries in Australia. Whether you’re in technology, manufacturing, renewable energy, or agriculture, securing the right funding can accelerate business growth.

 

FundFindrs Tip | Examples of Grants and Tax Offset Programs to watch:

  • NSW Minimum Viable Product (MVP) Grant

The NSW Government’s MVP Grant supports startups and innovative SMEs who aim to commercialise new and highly innovative products. Eligible businesses can receive up to $50,000 until available funding is exhausted. 

  • Research & Development Tax Incentive (R&DTI)  

The R&D Tax Incentive remains one of the most valuable funding sources for Australian SMEs, offering a tax offset of up to 43.5% for eligible R&D expenses. This program is crucial for businesses investing in innovation, product development, and scientific advancements.

 

With thousands of funding programs available, working with specialists like FundFindrs ensures you access the most relevant grants for your industry.

 

CONTACT US

 

3. Focus on Industry-Specific Growth Areas

Aligning your business with emerging industries receiving strong government investment can improve funding eligibility and open new growth opportunities in the upcoming financial year.

 

FundFindrs Tip | Key sectors to drive business success in FY27: 

Which industries are receiving the most government funding in Australia in FY27?
  • Agricultural Innovation & AgTech – AI-driven farm management, precision agriculture, and climate-resilient technologies are attracting investment.
  • Health & Aged Care Services –  According to the Australian Treasury’s 2023 Intergenerational Report, the share of Australians aged 65 and over is projected to reach 23% by 2062–63. This will generate a demand for aged care innovations, assistive technologies, and healthcare services is rapidly increasing. 
  • Construction & Infrastructure – Government-backed infrastructure projects are creating funding opportunities for smart-projects, energy-efficient buildings and sustainable solutions.
  • Renewable Energy & Sustainability – Businesses investing in clean energy solutions carbon capture, and circular economy innovations will benefit from ongoing grants, such as the Advancing Renewables Program (ARENA).  
  • Cybersecurity & Digital Security – With increasing cyber threats, SMEs investing in cybersecurity solutions will gain access to funding opportunities.

 

4. Strengthen Cash Flow & Financial Resilience 

How can SMEs strengthen cash flow and financial resilience in FY27?

In an economic climate marked by rising interest rates, inflation, and market volatility, SMEs must take a proactive approach to financial resilience. A strong financial position not only ensures business stability but also improves eligibility for grants and investment.

 

Cash flow stability isn’t just about survival — it’s about creating the capacity for growth, innovation, and long-term sustainability.

 

FundFindrs Tip | Top strategies for cash flow stability and building financial resilience:

  • Leverage tax incentives like the R&D Tax Incentive to offset costs.
  • Use AI-driven financial forecasting tools to predict revenue fluctuations.
  • Diversify revenue streams by expanding product lines, targeting new markets, or introducing subscription-based services to enhance financial security.
  • Secure working capital funding to ensure smooth operations during economic downturns.
  • Review and optimise business expenses to enhance profitability.
  • Adjust pricing strategies in response to market changes and inflation while maintaining customer loyalty.

 

Not sure if you’re eligible for the R&D Tax Incentive?
Our free Blueprint breaks it down with an eligibility checklist, examples, and expert tips from the FundFindrs team.

 

 

5. Engage with Industry Associations & Networks

Industry associations and business networks play a critical role in connecting SMEs with funding opportunities, mentorship, and strategic partnerships. Many awards and funding programs give preference to businesses that demonstrate industry involvement, making these connections highly valuable. Beyond financial benefits, being part of a strong business network provides insights into industry trends, regulatory updates, and collaboration opportunities.

 

As FY27 brings increased competition for grants and funding, along with new government-backed initiatives, SMEs with strong industry ties will have a strategic advantage. Engaging in these networks can open access to exclusive funding streams, provide early insights into regulatory changes, and position businesses as key players in their sectors, making them more attractive to investors and grant providers.

 

FundFindrs Tip | How to maximise industry connections:

  • Join local and national business chambers, trade associations, and industry-specific groups to stay informed about sector-specific grants and emerging opportunities.
  • Participate in networking events, grant information sessions, and workshops to build relationships with funding bodies, potential partners, and advisors.
  • Collaborate with industry bodies and advocacy groups to gain credibility and improve your business’s chances of securing funding.
  • Engage with accelerator programs and innovation hubs, which often provide grant access, investor connections, and growth support for high-potential businesses.
  • Seek mentorship from experienced industry leaders, who can guide you on grant applications, business development, and long-term strategic planning.

 

 

Fy27 tips industry connection

 

6. Build a Strong Online Presence

A robust digital presence is no longer optional: it’s essential for securing grants, attracting investors, and growing your customer base. According to Google, 88% of consumers research businesses online and read reviews before making purchasing decisions.

 

Now more than ever, a well-optimised digital footprint can improve discoverability, enhance brand authority, and position your business for greater success in a competitive landscape.

 

FundFindrs Tip | Key steps to strengthen your online presence:

  • Optimise your website with clear messaging, products and services offering, and case studies.
  • Leverage social media to share success stories, customer’s feedback, and industry insights.
  • Implement SEO strategies to ensure your business is discoverable by your target audience.
  • Ask your clients to leave testimonials and reviews of their experience with you service or product.

 

7. Maximise Your Business Potential with Award Recognition

Being recognised with a business award is more than just a badge of honour: it’s a strategic tool for accelerating your business. Winning an award can significantly boost business visibility, leading to increased partnerships, customer trust, and revenue growth. If you’re serious about expanding in this new financial year, FundFindrs can help position your business for awards recognition and success.

 

FundFindrs Tip | How we can help you build winning awards submissions:

  • Identifying the best awards for your industry and achievements.
  • Crafting compelling, high-impact submissions that increase success rates.
  • Managing the entire application process, so you don’t have to worry about deadlines or paperwork.

 

7 business tips for fy27

 

 

 

How FundFindrs Can Support Your Business Growth

At FundFindrs, we’re here to support your business through every stage of growth. From securing grants and maximising your R&D Tax Incentive claim to managing award submissions and identifying the right funding opportunities, our expert team has you covered. Explore our full range of services designed to help you grow, innovate, and strengthen your financial position in FY27 and beyond.

Claiming the R&D Tax Incentive in Australia: Common Misconceptions

Posted on by Bruce Murray

Last reviewed: June 24, 2026  

The Research & Development Tax Incentive (R&DTI) is an invaluable funding opportunity, supporting business innovation and growth. However, claiming the R&D Tax Incentive in Australia can often be misunderstood, leading to missed opportunities or incorrect applications.

 

In our previous article “Mastering the R&D Tax Incentive: top mistakes to avoid with your application” our R&DTI expert, Bruce Murray, talked to us about common application mistakes.

 

With decades of direct experience reviewing R&D Tax Incentive applications as a programme assessor within the Department of Industry, Science and Resources (AusIndustry), and a background spanning corporate governance, compliance, and risk management, Bruce’s insights carry the weight of someone who has sat on both sides of the assessment process.

 

For this article, we asked him to share frequent misconceptions around the R&D Tax Incentive and clarify them for us.

  1. What does the term ‘core R&D activities’ mean?
  2. Do some business owners believe the R&DTI is only for large businesses?
  3. How detailed do R&D records need to be?
  4. What do businesses often get wrong about how much time they have to submit their claims?
  5. Is the application process the same for R&D activities conducted outside of Australia?

 

 

Key takeaways 

  • A core R&D activity must have an unknown outcome, follow a scientific process, and aim to generate new knowledge. 
  • Company size and industry do not determine eligibility while the $20,000 minimum spend threshold does. 
  • Records must meet the “desktop understanding” standard; being self-explanatory, without needing further input from you. 
  • You have until 30 April to submit, but earlier lodgement means faster processing and quicker access to your rebate. 
  • Overseas R&D activities require a separate Overseas Finding application before they can be included in a claim. 

 

 

1. The term “core R&D activities” can be misinterpreted when it comes to R&D activities. What does it mean according to the R&DTI program?

To meet the definition of an R&D activity, there are several legislative requirements that need to be demonstrated for the R&D Tax Incentive program to respond.

 

Prior to commencement, the outcome of the R&D activity must not have been known or determined in advance by a competent professional in the field, based on current knowledge, information, and experience. This needs to be a true innovation or, in simple words, no one else knows this; no one else is doing it.

 

The unknown outcome must be determined by applying a systematic progression of work following a scientific process i.e. hypothesis, experimentation, observations, and conclusions. There needs to be a methodical process supported by clear and documented evidence.

 

Additionally, The R&D activity must be conducted for the purpose of generating new knowledge – where previously there was a knowledge gap, and the R&D project activities were required to address it.

 

Bruce Murray, FundFindrs R&D consultant and former AusIndustry assessor, shares insights on R&D Tax Incentive misconceptions

 

2. Do some business owners believe the R&DTI is only for large business or specific industries?

Definitely, the R&DTI program is not only for large companies. To be honest, the size of the company itself is not that important. Similarly, the sector, or industry type is not an influence on the R&DTI claim outcome.

 

 In October 2025, the ATO released their “R&D tax incentive transparency report 2022–23”  in which they noted a significant number of SMEs and smaller companies across all types and sectors of industry.

 

This means it does not matter what the industry is, nor how large (or small) the company is. So long as anticipated eligible R&D expenditure exceeds the threshold of $20k, an R&DTI application can be considered.

 

3. How detailed do R&D records need to be to apply successfully for the R&D Tax Incentive?

The records of a company’s R&D activities need to be as detailed and comprehensive as possible and reflect how those activities fit within the overall project.

 

R&DTI applications are subject to what we call “desktop understanding”. An assessment on merit, on the evidence presented at the time, without needing further explanation from an external source. This allows for objective assessment.

 

Maintaining organised documentation is crucial for supporting applications and providing evidence if needed. I recommend clients prepare comprehensive documentation in advance to ensure easy retrieval during a possible inspection.

 

FundFindrs helps you stay audit-ready. We support you in building clear, compliant documentation that strengthens your R&DTI claim.

 

CONTACT US

 

4. What do businesses often get wrong about how much time they have to submit their claims?

Businesses have up to 10 months after the End of Financial Year (EOFY) to submit their application, with the deadline falling on 30 April each year. However, submitting an R&DTI application shortly after the financial year-end offers several advantages.

 

Firstly, it provides ample time for thorough due diligence, enabling a more comprehensive investigation and discussion of activities potentially eligible for the R&DTI. Secondly, early submission helps avoid the application backlog AusIndustry typically experiences as the April 30th deadline approaches, thereby increasing the likelihood of a faster processing time.

 

Finally, submitting the R&DTI Schedule, an ATO document, concurrently with the Company Tax Return (CTR) simplifies the process, facilitates a more streamlined submission, and ultimately enables a quicker rebate, which can significantly improve a company’s cash flow.

 

5. What about R&DTI applications for businesses conducting R&D activities outside of Australia? Is the application process the same?

To claim the R&DTI for related activities conducted outside Australia, your business must first apply for an Overseas Finding.

 

To be eligible, your overseas R&D activities must meet all five of the following criteria:

  1. The activity must qualify as an eligible R&D activity.
  2. It must have a scientific link to a core R&D activity carried out in Australia.
  3. It must be conducted outside Australia and its external Territories.
  4. You must show that the overseas activity cannot be conducted in Australia due to specific reasons such as the lack of necessary facilities, expertise, or environment
  5. The total cost of overseas activities must be less than the cost of the directly related R&D work undertaken in Australia.

 

You can find more information from the government’s website for the Australian business community here.

 

FundFindrs tip on claiming the R&D Tax Incentive in Australia — common misconceptions explained

 

Knowing what activities qualify for the R&D Tax Incentive (and also which do not) can be tricky. Fortunately, FundFindrs’ team of experts is here to help guide your business through its R&DTI application.

Book a FREE consultation with one of our specialists now.

 

 

EOFY Australia 2026: Business preparation checklist for tax time success

Posted on by FundFindrs

13 essential steps to streamline EOFY and prepare your R&D Tax Incentive (R&DTI) claim

 

Last reviewed: July 17, 2026 

 

The end of the financial year (EOFY) in Australia falls on 30 June, and for businesses, now is the time to act. Rather than treating it purely as a compliance deadline, use it as your prime opportunity to organise your finances, reduce your tax burden, and plan strategically for the year ahead. 

 

And why not prepare your R&D Tax Incentive (R&DTI) documentation at the same time? 

 

In this guide we focus on what matters most for your business this EOFY: key dates, understanding tax return types, and deploying effective strategies to maximise deductions and ensure a successful tax time. And for maximum efficiency, get your documentation ready for upcoming R&DTI claim.

 

  1. Key EOFY related deadlines
  2. Business Activity Statements (BAS)
  3. Taxable Payments Annual Report (TPAR)
  4. The End of Financial Year checklist: Your business action plan (13 steps)
  5. For greater efficiency combine EOFY and R&DTI
  6. Common EOFY tax mistakes to avoid
  7. EOFY preparation — the foundation of funding success

 

 

 

Key takeaways 

 

  • EOFY is more than a compliance exercise. It is an opportunity to organise finances, optimise tax outcomes and prepare for the year ahead.
  • Understanding key lodgement deadlines is essential, including obligations for tax returns, BAS and TPAR reporting.
  • Preparing EOFY records early reduces errors, improves efficiency and helps avoid last-minute stress.
  • EOFY preparation and R&D Tax Incentive planning can be done together, helping businesses streamline documentation and reporting requirements.
  • Good record-keeping supports stronger tax and funding outcomes, making it easier to substantiate deductions and future claims.
  • Avoiding common EOFY mistakes can save time and reduce compliance risk, particularly when managing tax obligations and supporting documentation.

 

 

Key EOFY related deadlines

Knowing your key lodgement dates will help you stay organised during tax time. There are various deadlines to pay attention to, depending on your circumstances. According to the Australian Taxation Office (ATO), the deadlines are:

 

For individuals — 31st October

For businesses — 28th February

 

And there are the crucial deadlines for Business Activity Statements (BAS) and Taxable Payments Annual Report (TPAR) around the end of the financial year.

 

Business Activity Statements (BAS)

Your BAS reporting frequency (monthly, quarterly, or annually) determines your specific due dates.

  • Monthly lodgers: Your June BAS is due by 21 July. (Note: The December monthly BAS often has an extended deadline of 21 February for eligible businesses lodging electronically via an agent).
  • Quarterly lodgers (Standard): The standard deadline for the Quarter 4 BAS (covering April, May, June) is 28 July. Other standard quarterly dates are 28 October (Q1), 28 February (Q2), and 28 April (Q3).
  • Quarterly lodgers (via Agent): If lodging through a registered Tax or BAS agent, you typically benefit from extended deadlines under the lodgement program (except for Quarter 2). For the crucial Quarter 4 (ending 30 June), this generally pushes the deadline out to 25 August. Always confirm your specific date via the ATO portal or with your agent.

 

Taxable Payments Annual Report (TPAR)

If your business pays contractors for services in industries like building and construction, cleaning, courier services, road freight, IT services, or security, investigation, or surveillance services, you must lodge a TPAR.

  • TPAR deadline: This report, covering payments made during the 1 July to 30 June financial year, must be lodged with the ATO by 28 August each year.

 

 

The End of Financial Year checklist: Your business action plan

The EOFY requires thorough financial housekeeping, compliance adherence, and planning. Successfully navigating this period ensures accuracy in your reporting, helps you meet your obligations, and positions your business for future success.

 

To guide you through the essential activities — from year-round record-keeping and embracing technology to specific tasks like finalising accounts, managing tax obligations, and reviewing your overall business strategy — here is our comprehensive checklist to help you through a smooth and productive EOFY process.

 

Step 1 | Gather and organise your documents throughout the year

The first step to getting organised for tax time success is gather all your important paperwork, like receipts, invoices, bank statements, and any other relevant documents throughout the year. Having everything in order saves time and by doing this you can easily categorise them at the end of each financial year.

 

Step 2 | Embrace technology

Managing your documents is not always easy, so take advantage of accounting software or record-keeping apps to simplify the process. These tools can help you with expenses, generate reports and connect you directly to your tax accountant. This can simplify record-keeping throughout the year and result in a smoother EOFY process for you.

 

Step 3 | Consult a tax accountant

Do you need to consult a tax accountant?

Tax matters can be complex or overwhelming, so it could be worth consulting a tax accountant and seeking advice. A qualified tax professional can provide expert guidance and determine the best approach for filing combined returns. They will ensure compliance with tax laws, help you navigate deadlines, and maximise deductions across your business and personal finances.

 

Step 4 | Prepay expenses

Paying for expenses that can qualify for a tax deduction before June 30 will boost your tax refund. These costs might come from work-related expenses or donations to charities. Check out the ATO guidelines to see what work-related costs you can claim.

 

Step 5 | Write off bad debts

Can you write off bad debts before 30 June? 

You can deduct bad debts from your taxes if you don’t think you’ll be able to pay them back. You need to have proof of your claim and have made a sincere effort to collect the debt to be eligible for a bad debt deduction. Reducing your taxable income can be achieved by writing off bad debts before the end of the financial year. This can be helpful when filing your tax return lodgement. Speak to your accountant to see if this is the right option for you.

 

Step 6 | Bank reconciliation

Bank accounts, debtors, asset registry, and other assets, like payroll-related income in advance, leases, and other liabilities, can be addressed in reconciliations. Make sure your bank statements and bookkeeping records match. Plan to avoid delays and meet end of financial year deadlines.

 

Step 7 | Review assets and asset depreciation

Examine your asset register and make any necessary updates, including asset sales or purchases, during the financial year. Analyse and precisely record the depreciation costs for every asset.

 

Step 8 | Review business expenses

Examine your business expenses to make sure they are justified and accompanied by the necessary records. Determine whatever tax write-offs or deductions might be available for the current fiscal year.

 

Step 9 | Complete and lodge Business Activity Statements (BAS)

Prepare and submit your BAS, outlining all transactions related to GST for the fiscal year. Make certain that every statistic is true and backed up by the necessary records.

 

Step 10 | Manage superannuation obligations 

Are your superannuation obligations up to date? 

Tax time can be a good opportunity to review your superannuation requirements for the new financial year. As a business, it is your legal obligation to pay superannuation guarantee (SG) payments to eligible employees. Ensure timely payments and maintain accurate records to avoid penalties from the ATO. For every eligible employee, you are required to pay at least 12% of their ordinary time earnings (OTE) as the SG rate. Consider consulting with a financial advisor to optimise your superannuation strategy, ensuring compliance and maximising benefits for both your business and your employees.

 

Step 11 | Maintain accurate payroll records

Keeping correct and accurate payroll records comes next on the EOFY checklist. Employers are required to utilise Single Touch Payroll (STP) to automatically transmit payroll tax information to the ATO for reporting purposes.

 

Step 12 | Taxable Payments Annual Report (TPAR)

The Taxable Payments Annual Report (TPAR) is a key ATO reporting requirement for many businesses that make payments to contractors or subcontractors. The industries that must file a TPAR through the Taxable Payments Reporting System (TPRS) have been added to the government’s list. Currently that list includes building and construction, government grant providers, IT services, and security services.

 

Step 13 | Analyse your business structure 

Is your current business structure still right for you? 

Is your current business structure (sole trader, partnership, or company) still the best option for you? Take into consideration liability protection, expansion objectives, and tax consequences when determining your business structure. Seek advice from an expert in taxes about how to organise your company to minimise taxes may be advantageous.

 

For greater efficiency combine EOFY and R&DTI

Consider combining the preparation of your EOFY and Research and Development Tax Incentive (R&DTI) documents for ultimate efficiency.

 

While you are already deep in reviewing financial records, assessing project costs, and finalising accounts as part of EOFY activities, why not consider including the preparation for your Research and Development Tax Incentive (R&DTI) claim?

 

Rather than seeing your R&DTI claim as a separate, later task, consider integrating it with your EOFY processes. Much of the detailed financial data required for R&DTI claims like payroll costs for R&D staff, specific project expenditures, and overhead allocation is already being gathered for your tax return and financial statements. By identifying and collating R&D specific information at the same time, you can significantly streamline workflows, reduce duplication of effort, and save valuable time and transform compliance from two separate burdens into one more efficient process.

 

To qualify for the R&D Tax Incentive, your business generally needs to meet the following conditions: 

 

  • Entity type: must be an incorporated company (sole traders and partnerships are not eligible) 
  • Minimum spend: at least $20,000 in eligible R&D expenditure for the income year, unless you use a registered Research Service Provider 
  • Activity type: activities must involve genuine experimental work aimed at generating new knowledge, not just routine development or quality testing 
  • Registration: R&D activities must be registered with AusIndustry within 10 months of your income year ending (i.e. by 30 April for a 30 June year-end) 

 

FundFindrs can provide expert guidance for your R&DTI. Book an appointment today.

 

CONTACT US

 

Common EOFY tax mistakes to avoid

Here are the four most common mistakes you should avoid when it comes to EOFY.

  • Missing deadlines: Failing to meet crucial tax deadlines for lodgements or payments can result in penalties and interest charges directly from the ATO.
  • Mixing personal and business expenses: Mixing personal and business finances makes it difficult to report taxes accurately and can result in disallowed claims or trigger an audit from the ATO.
  • Ignoring Superannuation Guarantee contributions: Not meeting your Superannuation Guarantee (SG) obligations, including paying the correct amounts by the deadline, can lead to substantial penalties like the Superannuation Guarantee Charge (SGC) from the ATO.
  • Not keeping accounts up-to-date: Failing to keep accounting records current makes EOFY preparation difficult and increases the risk of inaccurate reporting, potentially leading to errors or compliance problems with the ATO.

 

Four Common EOFY mistakes

 

EOFY preparation — the foundation of funding success

EOFY isn’t just about closing the books; it’s the launchpad for smarter planning and accessing vital funding through grants and the R&D Tax Incentive. Strong EOFY records are essential for this, and although FundFindrs aren’t tax agents, we specialise in helping you leverage that financial data for successful funding applications. Connect with FundFindrs today to discuss maximising grants and R&DTI opportunities for your business. Book a FREE consultation today.