The R&D Tax Incentive and Government Grant Experts

Your complete R&D management solution

Say goodbye to outdated, tedious, and stagnant methods of traditional R&D management and say hello to a management solution reinvented to work with you, designed to identify opportunities sooner and maximise your financial outcome, while maintaining the highest level of compliance.

Regular documentation, higher compliance

The prmpt. solution is unique. With ongoing monthly consultations, our specialists are able to provide you with a smoother and swifter end of financial year lodgement experience, cutting both time and extra costs.

Tax incentive claims made easy

We take our client’s time very seriously and treat your business as if it were our own. Our R&D and government grant consultants are personally committed to spending time with your staff to acknowledge and reduce the lack of understanding around R&D. This is achieved by modifying the work culture to be R&D sensitive, and educating your team on strategies which go beyond the status quo of your industry.

We work with your team, determining what is and isn’t R&D, to identify opportunities and maximise your claim.

Why choose prmpt.?

The complete R&D solution

We are one of the few R&D consultancies that offer a complete end-to-end R&D and grant management solution.

Securing your company IP

We ensure your Intellectual Property (IP) is secure and not just held with a single employee that often leaves the company when they do.

Maximise your claim

We regularly consult with your team on either a fortnightly or monthly basis to ensure all R&D is captured periodically and nothing is missed.

Government grants

Our consultants will always be on the search for new grants applicable to your company as they become available and will advise, apply and manage in addition to your R&D.

Educating your team

We work with your team to create an R&D sensitive work culture and educate them on how to recognise R&D to ensure nothing is missed throughout the year.

Highest level of compliance

Our regular consultation with your team and documentation building ensures your company remains fully compliant with the latest R&D tax legislation.

Delivering the best possible R&D outcome for company longevity

Our unique R&D consultation process has proven to increase our client’s R&D Incentive by up to 32%. 

We pride ourselves on offering you the opportunity to collaborate with and educate your team on how to research and develop more effectively for a greater overall outcome through the R&D Tax incentive.

By inspiring the team to be creative in their work operations, we can optimise the data we capture while also building the company’s Intellectual Property (IP) so that we can maximise the R&D incentive you receive. All while maintaining the highest level of compliance.

Our prmpt. process

The efficiency of our short turnaround and unique approach is reflected in our business name: through all operations, we aim to be prompt.

Enquire

To determine your eligibility, take our simple eligibility test.

Eligibility

In order to proceed further with your application, we first need to verify your eligibility.

We'll be in touch

With prmpt., you will be communicating with our R&D Tax Incentive and government grant experts who value your business and share your passion.

R&D Tax Refund Calculator

Enter your details for the relevant financial year to calculate how much you could receive in an R&D tax refund.

    Group Company Turnover

    Select the total revenue for the relevant financial year for your company/group

    Estimate R&D Expenditure

    Enter an estimate of expenses you have incurred related to R&D for the relevant financial year

    Easy, pain-free, & transparent

    Our proven consultation methodology erases the traditional stigma of R&D being a complicated and frustrating process at the end of each financial year.

    We do this by creating a simple, regular workflow practice throughout the year that is flexible to our client’s team structures and availability. Our focus is to align our work to our client’s business strategies via regular consultation and documentation of core and supporting R&D activities within the business.

    Traditionally, R&D can be a long, over-complicated process. Our simple method of tracking R&D with regular consultation makes it easy, pain-free, and transparent.

    Frequently Asked Questions

    The Research & Development (R&D) Tax Incentive is Australia’s single largest government incentive. Australian companies creating new and novel products or services can utilise R&D to claim back a proportion of their eligible expenditure as a cash refund or tax offset.

    With a comprehensive strategy and the correct execution, the R&D Tax Incentive can provide cash flow and support to grow innovation within your company.

     

    Hypothetical Example <$20 million annual turnover

    If your annual turnover is less than $20 million, you’re eligible to claim 43.5% on R&D expenditure as a cash refund.

    • Your company turnover is $3,000,000
    • You have $1,000,000 in eligible R&D expenditure
    • Therefore you will receive a refundable tax offset of $435,000 ($1,000,000*43.5%)

    Hypothetical Example >$20 million annual turnover

    If your annual turnover is greater than $20 million, you’re eligible to claim 38.5% on R&D expenditure as a tax offset.

    • Your company turnover is $22,000,000
    • You have $4,000,000 in eligible R&D expenditure
    • Therefore you will receive a non-refundable tax offset of $1,540,000 ($4,000,000*38.5%)

    See our R&D Calculator

     

    Your business is eligible to claim the R&D Tax Incentive if you meet at least one of the following criteria:

    • Researching the development of potential products due to a lack of public knowledge available
    • Creating new products or services that are unique to your industry
    • Improving or modifying a product, service or process or changing the way it is produced
    • Developing new knowledge/methods of completing tasks where the outcome is often unknown

    Take our R&D Eligibility Test

     

    • R&D consultants can use their existing knowledge to effectively execute your R&D claim promptly
    • Lodge your claim with confidence that the activities meet the eligibility criteria and the proper due diligence has been performed
    • We have several years of experience in R&D across several industry sectors
    • Avoid distracting your internal team from their core work by having a team of experienced R&D consultants working on your claim in the background
    • De-risk losing company Intellectual Property (IP) that often sits with one employee and leaves the company when they do
    • Use our expert knowledge and advice to maximise your R&D benefit and achieve the highest level of compliance

    Whilst R&D is a self-assessed program, it is not guaranteed from an audit/review by AusIndustry. Our job is to ensure your claim is 100% eligible, that all costs are captured/maximised and that you have the supporting documentation to substantiate your claim.

    Depending on how quickly we can obtain all the required information from yourself and your team, an R&D application can be processed by us in 2-3 weeks. Then allow for an additional 1-2 weeks for the R&D refund/offset to be issued by the ATO.

    As every client and their business is different in terms of size, requirements and work involved, our proposals are tailored to each client’s individual needs. Depending on if it is just an R&D application, government grant or both we can discuss fees for our services and a model that best suits your business.

    Feel free to contact us for a quote.

    • We spend a considerable amount of time ensuring your R&D activities are compliant in relation to the latest guidance and tax legislation.
    • We educate your team by creating an R&D sensitive team culture, ensuring nothing is missed throughout the year.
    • We engage with you on a regular basis and complete the required work throughout the year as opposed to the traditional once a year catch up that is becoming more heavily scrutinised by the governing bodies. As soon as lodgement dates open we can submit your application to ensure a prompt submission of your tax refund/offset.
    • We maintain the highest level of compliance for your R&D.

    Sure!

    1. Ensure you regularly record all R&D activities, develop supporting documentation and have a system for managing throughout the financial year. Don’t leave it to the last minute!
    2. Get scientific! Ensure you develop a strong hypothesis and make it clear what you are aiming to achieve in your experiments using specifics.
    3. Prove yourself! Research that the product, method or development you are creating does not already exist in the market and if it does explain why or how yours is different and developing new knowledge.
    4. When it comes to government grants ensure you answer the question and follow the assessment criteria to the tee. Be concise, do not write emotional responses and only include information about the company/project that is relevant to the grant you are applying for. Having an outsider review your work with an unbiased, non-emotional perspective can increase your chances of success tenfold.

    If you have completed a grant application and simply need a review and honest feedback, we can also offer this service. Speak with one of our consultants to learn more.

    We love working with entrepreneurs, inventors, CEOs, CFOs and R&D managers who are passionate about their R&D project. Your success is our success, and we’ll always endeavour to achieve the best outcomes for our clients in an efficient manner, hence why we call ourselves prmpt.

    To get started, take our eligibility test.

    Find out if you're eligible today

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