Game On, page-645

Evening all

Found this little interesting and thought I'd share...

Not that RAP is struggling for funds right now as we are still sitting pretty but I've worked out that we should be getting an R&D rebate of around $1,019640 this is based on the total amount spent on R&D per quarter announced on the:

1. 29/07/16 - $269,000
2. 28/10/16 - $218,000
3. 30/01/17 - $540,000
4. 20/07/17 - $1,317,000




So as you can see from the above attached we can claim back 43.5% from the total amount .. Some bozos on here are claiming that we will not be able to get an R&D tax incentive claim put through, BS - this is simply incorrect!!! Anyway I'm no accountant so don't quote me on the above amount that I'm assuming Resapp will be reimbursed..... But I've done some homework...


Research and development tax incentive

• The Research and development (R&D) tax incentive encourages companies to engage in R&D benefiting Australia, by providing a tax offset for eligible R&D activities. It has two core components:
  
  
  • a refundable tax offset for certain eligible entities whose aggregated turnover is less than $20 million
  • a non-refundable tax offset for all other eligible entities.

Cheers

Red bar