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E&C Innovation

What does innovation mean? What innovations are occurring within your industry now? How will this innovation effect your business in the short, medium and long term? At Elephant & Co. we are able to build an environment within your business to allow you to innovate and grow your business 10 times.

Why Innovation

Join the ‘Innovation Nation’

“If we can inspire people to be innovative…I promise you our opportunities are boundless,”

- PM Malcolm Turnbull

Malcolm Turnbull has urged an “ideas boom” in Australia, where risks are taken to set up the Googles of the future and preschoolers learn computer skills.

Tax breaks for risk-taking businesses and a boost in science spending lie at the heart of the plan.

Make innovation a priority for your SME Business, take advantage of the Governments Research & Development Tax Incentives and join the ‘Innovation Nation’.

 

Q&A with Andrew Philp- Chief Operating Officer


How we can help fund your innovation

Innovation Grants

Australian businesses are being encouraged by the Australian Federal Government to generate new knowledge in order to provide new products and services that ultimately employ more Australians and increase the tax revenue pool.

A tax rebate is available for Australian businesses participating in Research & Development, jointly administered by AusIndustry and the Australian Tax Office, with over 20,000 successful claims in F16.

If you have spent time in the previous financial year coming up with new ideas, testing those ideas (irrespective if the ideas have failed) or have come up with a new product or service, you maybe eligible for a Research & Development Tax Incentive rebate.


Benefits of Research & Development

Tax Incentive Scheme
The Research & Development (R&D) tax incentive encourages companies to engage in R&D benefiting Australia, by providing a tax offset for eligible R&D activities.

  • FOR COMPANIES WITH TURNOVER LESS THAN $20M: An offset of 43.5% for each $1 of R&D expenditure applies.

  • FOR COMPANIES WITH TURNOVER GREATER THAN $20M: An offset of 38.5% for each $1 of R&D expenditure applies.

 
The R&D Tax Incentive Scheme is:
 
•    Self-assessed
•    Can greatly reduce a business’ tax bill
•    In some cases provide a cash injection directly into the hands of business
•    Open to all industries
 

 

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DISCLAIMER

Elephant & Co coaches it’s clients to navigate the pathway for grant opportunities and to manage the implementation of their R&D projects. At no time do Elephant & Co provide taxation, financial services or legal advice. All submissions are managed by external r&d accounting tax and legal professional on behalf of the client with administration support from Elephant & Co. For more information, please contact us at info@elephantco.com.au