Companies which conducted Research and Development in the 2016/17 financial year don't have long to lodge claims.

All R&R activities up to 30 June 2017 need to be submitted to AusIndustry by 30 April 2018, so companies should act quickly to compile all the necessary information or miss out on tax concessions.

Applications need to include details of the activities undertaken, information about the results of the work, and evidence to show that the activity was genuine R&D i.e. was new and had uncertain outcomes. Make sure these submissions are accurate and detailed in order to succeed in having your application accepted.

Assistance with compiling a successful R&D application is available and will help ensure you are compliant and eligible for the relevant tax rebates. These services are efficient and cost effective, and gives you peace of mind in dealing with the often complex requirements. Contact Nimbus Financial right away to speak to an advisor.

The information contained in this blog is general in nature and does not take into account your personal circumstances. You are advised to seek independent advice from a Financial Adviser before acting on any information contained herein.