Major Australian travel agency Flight Centre Ltd released its annual report this week. The report sees the company return to generating profit and paying dividends after a period of crisis during the pandemic. What some people may not realise is Flight Centre is largely a technology-driven business. The company has a large Software development expenditure annually, noting that:
An article in the AFR commenting on Flight Centre’s results discusses how they were able to achieve the FY23 result, noting:
Business Investment in R&D should be a key focus in helping Australia through the current economic challenges confronting the country.
Policymakers should ensure that suitable settings are in place (including business access to resources and the maintenance of a stable, generous R&D Tax Incentive) to assist businesses in playing their role in increasing Australia’s productivity and reducing inflation.
Please get in touch with our office if you would like to speak to someone about a potential R&D claim, or check out our website for more information.