The Research and Development Tax Incentive (R&DTI) program administered by AusIndustry is open to companies of all sizes and in all industries, but certain industries may be at a higher risk of being rejected under the program.
Industries that may be at a higher risk of being rejected under the RDTI program include:
Agriculture, forestry and fishing (unless it's advanced agriculture)
Activities of households as employers; undifferentiated goods- and services-producing activities of private households for own use
Creative, arts and entertainment
Construction
Education
Financial and insurance services
Software
Wholesale and retail trade
Hotels and restaurants
The above-mentioned industries may be at a higher risk of being rejected for RDTI because their R&D activities may not meet the program's eligibility criteria. The program is intended to encourage companies to invest in R&D activities that lead to new technologies, products, or processes that have the potential to improve the competitiveness and productivity of Australian industry.
It's worth noting that these industries are at a higher risk of being rejected, but they can still qualify if they demonstrate that their R&D activities meet the eligibility criteria of the program. A future focussed R&D plan that is prepared prior to you undertaking your program of R&D, that has been prepared with reference to the R&DTI program requirements and eligibility criteria, can assist dramatically in reducing your risk of non-compliance.
This is where R&D Certainty can assist your business by both assisting with the preparation of your R&D plan and ensuring that your R&D is eligible in accordance with the program requirements.
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