Australia's R&D Tax Incentive provides eligible businesses with tax offsets or refunds for the costs involved in advancing innovation. As the April 30 deadline to register your R&D activities approaches, our R&D consultants are sharing their knowledge and top tips to help businesses capitalise on the innovative projects they undertook in the past financial year.
If you're in the manufacturing sector, or your business is working on process improvements, product development or any experimental research to gain new knowledge, this case study might inspire you to claim the R&D Tax Incentive this year.
Our client is a renowned player in the food and beverage sector. Since the 1960s, they’ve been manufacturing Mediterranean-style sweet and savoury pastry products such as pastizzis, savoury triangles, gozleme, puff pastry, filo spirals, and desserts. Based in Melbourne’s West, and employing over 130 staff, the company boasts an impressive turnover of $35 million.
The Opportunity to Claim R&D Tax Incentives
Back in 2014, BlueRock’s R&D Consultants identified a golden opportunity and met with the business’ then-owner to discuss our R&D Tax Incentive services . Despite being in a competitive industry where innovation and product development are key, the company had never claimed R&D tax incentives. We saw the potential to help them capitalise on their ongoing product development and process improvements.
Our Approach to R&D Consulting
Since our initial engagement, we've partnered closely with senior stakeholders, quality control, and process personnel to document and claim the R&D Tax Incentive annually. Our meticulous approach involves thorough analysis and strategic advice to ensure all eligible R&D activities are identified and claimed.
The Results? Millions in R&D Tax Rebates
Our decade-long collaboration with this manufacturer has been nothing short of transformative. We've uncovered over $40 million in eligible R&D expenditure, resulting in approximately $2.9 million in tax savings.
This significant financial benefit has been reinvested into the business, enabling investment in manufacturing equipment and plant upgrades .
Why Work With BlueRock’s R&D and Government Incentives Consultants?
Partnering with BlueRock went beyond tax savings; it meant fostering innovation and maintaining a competitive edge. Our expertise in navigating the R&D Tax Incentive program and our hands-on support in all areas of business have empowered the client to continue thriving in a demanding market.
Our entrepreneurial, approachable, and knowledgeable team ensures you get straight answers, a smooth process and substantial benefits when investing in R&D projects. Reach out to our R&D consultants today to see how we can help your business grow through strategic R&D consulting.
