What is a Registered Service Provider?
Under the new R&D Tax Credit Scheme which commenced on the 1 July 2011 Registered Research Agency (RRA) have been replaced by Registered Service Providers (RSP). A RSP is an organisation approved by the Industry Research and Development Board and is capable of performing contracted Research and Development (R&D), in one or more classes of research activity, on behalf of eligible companies.
There are a number of advantages that we will be able to offer our clients as a RSP:
- Expenditure for Research & Development work in Australia contracted to us, within approved classes of activity, is eligible for the full concession in the year of income, irrespective of the annual R&D expenditure of the claimant, ie: the normal annual expenditure threshold of $20,000 is waived.
- Prepayments for contracted Australian R&D may be claimed by companies up to twelve months in advance of the work being carried out.
- Small and medium-sized firms are able to undertake R&D programs without having to invest in costly R&D equipment and expertise.
For more information on how Applidyne can assist you with Research & Development contact us via e-mail.