How would you like to put more money back in your pocket to go racing?
You may be eligible for a 43.5% R&D refund from the government for your racing or business activities. There are specific criteria however you may not be aware that your projects may be eligible.
Minimum qualification criteria:
- Your racing or business must be though an Australian Registered PTY LTD Company.
- Minimum spend of $20,000
- Are developing new products, processes or services (this can be a combination of combining existing products, processes or services to create a new one.
- Your PTY LTD company owns the Intellectual Property for the project.
Examples:
- Software development
- Developing new parts or engines
- Trialling new aerodynamic devices that you developed
Things you may be able to claim for:
- Racing Expenses
- Employee Wages
- Office & Workshop expenses
- Racing Expenses
- Contractors
- Electricity
- Software developers in Australia
- Website Costs
- Parts
- Travel
- Racing Fees