Taged Articles: Research and Development

Every great product or service begins with an idea. It might strike in a factory, a warehouse, a farm, or even while daydreaming mid-flight. But for these ideas to transform into impactful innovation…

The Government estimates that Research and Development (R&D) expenditure by SMEs will be approximately $5.83B in 2022/23! The cost to the Government is the Research and Development Tax Offset, w…

A recent report by the Department of Industry, Science and Resources indicated that the estimated ‘refundable offset’ for “companies with an annual turnover of less than $20M in 2022/23” would be $2…

Accountants who assist SMEs with advice on R&D know that the deadline for the lodgment of the R&D Tax Incentive application – Registration of R&D activities is 30 April 2024. A summary o…

The GIANT AWAKENING The '2024 NAB Accounting and Financial Planning Report' revealed that 85% of surveyed Accounting Firms are “offering business strategy”, emphasizing the growing importance of Adv…

Companies with turnovers over $20M can also claim the R&D offset but on a different basis to that available for companies with turnovers under $20M. For large companies, the non-refundable R&…

We have identified that it is a myth that R&D is only for large businesses. We have also mentioned how being proactive in advising SME companies on R&D can be a ‘mainstream service’ for Accou…

Accountants and bookkeepers who are offering Advisory Services to SME businesses find that there are significant numbers of SMEs who are undertaking Research and Development (R&D) projects. The…

How many of your clients miss out on claiming the Research and Development (R&D) Tax Offset because they are unaware of the rules that relate to claiming legitimate R&D expenditure? Firstly…

Many SMEs are seeking advice and guidance from accountants on more than taxation. The “Innovation Journey” is one of those key areas that some entrepreneurial SMEs are undertaking and they require as…

Companies with turnovers under $20million who are eligible for the R&D refundable tax offset are estimated to earn $2.54billion in 2022/23 financial year, according to data released by the Depart…

Accounting News Maximising R&D tax benefits: a guide for accountants and bookkeepers By Peter Towers – ESS BIZTOOLS Pty Ltd SME owners value advisors who can offer more than just tax complianc…

Accounting News Implementing your client’s vision By Peter Towers – ESS BIZTOOLS Pty Ltd “I need help attracting investors for a new product that I have developed.” Sound familiar? It’s a commen…

What is your firm’s point of difference?  From a SMEs’ point of view most accountancy firms look the same – the majority provide a service relating to the preparation of annual financial account…

In the most recent ESS BIZTOOLS’ Business Advisory Services Webinar/Conversation, Matthew Karakoulakis, Principal Legal Officer of AMK Law discussed with Peter Towers, Managing Director, ESS BIZTOOLS…

Many businesses are facing an uncertain economic future and will be looking to their accountants/business advisors/bookkeepers to give them advice as to what the future holds for them.  The…