It's about that time of the year that the R&D tax refund hits the books but this announcement by TNG on 24/11 made me think our refund to the levels we have been experiencing may not last that long into the future. I'm not sure how scale parameters decrease with increased revenue though.
TNG's announcement said:
"Under the R&D tax incentive scheme, companies with a turnover of less than $20 million which undertake research & development activities are entitled to a cash refund of 43.5 cents per dollar spent on eligible research and development in Australia."
In my AGM report MO said he would expect to go beyond $20m revenue this financial year. The order book is already $15m for this financial year.
Perhaps we need to shuffle the revenue streams around the world (Bermuda wants a wave farm) to maximise R&D tax refunds within Australia. As long as we keep under $20M revenue in Australia we will get the full R&D tax refund.
One question I have is -
Is Revenue the same as Turnover in Australia?
It's about that time of the year that the R&D tax refund hits...
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