July 7, 2019

Claim your R&D refund from the Government

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:

  1. Your racing or business must be though an Australian Registered PTY LTD Company.
  2. Minimum spend of $20,000
  3. Are developing new products, processes or services (this can be a combination of combining existing products, processes or services to create a new one.
  4. 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

 

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