Hello people. If you are running a community food enterprise, and doing something interesting / innovative, you may be eligible for the federal government’s R&D Tax Incentive. It basically means you can claim almost 50% of what you have spent on ‘research and development’ back, and you get it in cold hard cash with your tax return. It has been critical to making small amounts of money go far in the journey of Eaterprises and the Open Food Network
I’m pretty sure you DO need to be a ‘business’ and it’s not eligible for non-profits, but possibly worth someone checking this for sure . .
Information sessions are coming up in March, you can register here - https://www.business.gov.au/Events/R-and-D-Tax-Incentive-registration-ready-workshop-for-companies
This interactive session will cover the following areas of the Research and Development Tax Incentive programme:
- general knowledge and benefits of the R&D Tax Incentive programme to increase your understanding of the programme
- the programme’s eligibility criteria
- how to complete and lodge your registration form.
We are also happy to provide contact details of an extremely helpful guy who can help you prepare application and return, for a small proportion of the money you get back. He has helped us for the last five year for MUCH less than normal accountants / advisors because he believes in local food and what we’re trying to do. Reply below if you want to know more and I’ll private message you