For years, Swanson Reed has been helping companies in Australia claim the benefits of the R&D tax incentive program. R&D tax credits help companies with active research and development programs to get certain tax exemptions. In other words, an R&D tax credit is a temporary tax break that your company might be able to take advantage of if it is currently expending considerable resources on developing a new product or researching and innovating a new idea.
In addition to providing clients with guidance on how to claim R&D tax exemptions, Swanson Reed also has one of the biggest collections of R&D tax resources available on the web. Our site isn’t just a place where we describe our services or funnel clients our way with a contact page. We also keep our blog-style pages up to date with the latest in R&D tax case studies, R&D tax court decisions and R&D tax court outcomes. This information can be used to help companies better understand how R&D tax credits work, how to avoid certain pitfalls associated with this particular tax exemption, and more.
How Do R&D Tax Exemptions Work in Your Industry? Visit the Swanson Reed Website to Find Out
Though research and development are most often associated with innovative Silicon Valley tech firms, those companies are not the only ones with extensive R&D budgets. On the contrary, research and development can be a major component of other industries as well, including (but not limited to) agriculture, manufacturing, architecture, medicine, engineering, biotechnology, aviation, automotive and food and beverage. Even popular tourist attractions, like zoos or theme parks, can have research and development departments.
Of course, the way that companies and corporations in these various industries operate their R&D departments—and, more importantly, the way they spend their R&D budgets—can vary. As a result, R&D tax exemptions can work a bit differently from one industry to the next.
With Swanson Reed’s extensive library of R&D tax case studies, you can learn more about how research and development tax exemptions might work for your business. We take a look at each of the industries listed above—from agriculture to medicine to theme parks—and examine the differences in R&D tax case law between them. For each industry, we describe a business scenario, highlight the R&D activities that might be eligible for tax exemptions and provide commentary on how a business in that industry might go about qualifying for R&D tax breaks.
In addition to our thorough libraries of R&D tax case law and R&D tax case studies, we at Swanson Reed also follow the happenings in R&D tax law all throughout the country. Our recaps of different R&D tax decisions and R&D tax court outcomes may also be useful in helping your business to navigate the potentially confusing waters of Australian research and development tax exemptions.
Learn More about R&D Tax Law at Swanson Reed
Are you interested in learning more about R&D tax case law or R&D tax court decisions? Head to Swanson Reed’s website, at www.swansonreed.com.au, and hover your cursor over the tab that says ‘Knowledge Centre.’ There, you can find all of our resources on R&D tax law—from case studies to pending legislation, all the way to court outcomes and beyond.