R&D Health Check
Our R&D Health Check is specifically designed to develop a comprehensive overview of the current state of ongoing and planned R&D activities within your company. The main outcomes of an R&D Health Check are:
- to provide an estimate of benefits available through relevant Federal and State Government incentive programs (such as the R&D Tax Incentive):
- to educate your key technical and financial staff in techniques for identifying and documenting of eligible R&D projects; and where required
- to outline strategies for effectively scoping a future R&D project so that associated compliance costs of accessing government incentive programs are minimised.
A typical R&D Health Check involves an on-site presentation on R&D to your key technical and financial staff, a session to identify current and planned R&D projects, and a series of follow-up interviews with relevant technical staff. We then prepare and supply a detailed report which sets out:
- All eligible R&D activities conducted in the reviewed financial year;
- The net (after tax) benefit of grant funding options available for the eligible R&D projects we have identified;
- Opportunities for increased claims and any exposures to risk;
- Opportunities for recovery of under-claimed R&D activities (R&D Tax Concession/Incentive ) in earlier year(s)
As a final component of the Health Check, BSI Innovation consultants can also provide a further detailed presentation of the contents of the report, together with a commentary on the process to senior management or the Board of your company where required.
To discuss an R&D Health Check for your business, please call Michael Lynch on (02) 9212 5505.