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NSW State Government Offers R&D Fund and New Tech Vouchers
August 10th, 2021
The NSW State Government has recently announced new initiatives relevant to companies conducting R&D activity:
- A $6 million R&D fund will target innovative products that have been developed by NSW businesses. Proposals to scale R&D products will be assessed by a panel of judges with expertise in commercialisation, venture capital, academia, government and industry;
- A COVID-19 edition of TechVouchers, valued up to $25,000 and $50,000 per business, will be provided to businesses to access expertise and equipment in NSW, through publicly funded research organisations such as universities, CSIRO, National Measurement Institute and ANSTO.
Additional information is available on the NSW Government website.
Companies who meet the relevant criteria and that have the time to participate in the grant application process should consider these initiatives.
Companies who receive the grant funding and are also registering activities under the R&D tax incentive will need to be mindful of the operation of the new clawback provisions relevant to grant funded expenditure.
Take our online eligibility test to check whether your company can reduce its tax bill with the R&D tax incentive.
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Daniel McGregor2022-08-11I have been using Swanson Reed for my clients for more than a decade. Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients. Highly recommended.
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Gary Watson2022-05-31We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.
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News & Research
News & Research
News & Research30 April Statutory Deadline for FY23 R&D Claims – One Week to Go
There is one week to go until the deadline for FY23 R&D Registrations. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do […]
The matter concerns an individual charged by the Commonwealth DPP for attempting to unlawfully obtain a refund under the R&D Tax Incentive. Before being charged, the taxpayer was compulsorily examined by the ATO. The individual had applied to stay the […]
