Effortless R&D Tax Incentive Activation
Unlock Your R&D Tax Benefits with Balnzed
Seamlessly manage your R&D tax claims and maximize your entitlements with easy integration and automated features.
Start Activating Your R&D Tax Incentive Today
Activate R&D Tax Incentive Effortlessly with Balnzed Software
Unlock the benefits of the Australian Research and Development (R&D) Tax Incentive directly through Balnzed, your trusted accounting software partner. Our seamless integration allows you to activate, assess, and manage your R&D tax claims, ensuring you maximize your entitlements with ease
What is the R&D Tax Incentive?
The R&D Tax Incentive (R&DTI) is an Australian Government program designed to encourage businesses to invest in research and development activities that generate new knowledge and innovation. Eligible companies can receive a tax offset for eligible R&D expenditure, supporting growth and competitiveness in the Australian economy
Why Activate R&D Tax Incentive with Balnzed?
How to Activate the R&D Tax Incentive in Balnzed
In your Balnzed dashboard, navigate to the sidebar and click on Settings.
Click on the Activate R & D option
Answer the guided questions
- Am I an eligible R&D entity?
- Is my R&D eligible?
- Is my expenditure eligible?
- Do I have evidence to support my claim?
Simply select “Yes” or “No” for each, as shown in our intuitive interface
Click Save to activate R&D features for your account
Required Documents and Evidence
Before gathering documentation, Assess if your business qualifies as an R&D entity and confirm that activities and expenditures meet legislative requirements using the Balnzed self-assessment or ATO eligibility guidelines
To support your R&D tax claim, you need to maintain and upload the following documentation:
- Project plans and activity logs (detailing core and supporting R&D activities)
- Financial records (invoices, payroll, and expenditure reports)
- Technical reports or research outcomes
- Contracts with Research Service Providers (if applicable)
- Evidence of eligibility and purpose (as outlined in the [R&D Tax Incentive Guide to Interpretation])
Eligibility Checklist
Are you an eligible R&D entity?
Generally, this means you are a body corporate incorporated under Australian law or a foreign company operating in Australia
Are your activities eligible?
Core R&D activities must be experimental and aimed at generating new knowledge. Supporting activities must directly relate to core activities
Is your expenditure eligible?
Only costs directly related to eligible R&D activities can be claimed (total eligible R&D expenditure must be at least $20,000, unless using a registered RSP)
Do you have evidence to support your claim?
Maintain comprehensive records of activities, expenditure, and outcomes.
Why Should Australian Businesses Activate
R&D Tax Incentives?
- Receive Tax Refunds or Offsets: Small businesses can get a refundable tax offset of up to 43.5% for eligible R&D expenditures
- Reduce Business Costs: Offsets research expenses, allowing greater investment in innovation
- Encourage Business Growth: Provides financial support for startups and established businesses developing new products or technologies
Get Started with Balnzed
Are you ready to maximize your R&D tax credits?
Sign up for a free consultation with Balnzed today and discover how our accounting software can simplify your financial management and help you claim the credits you deserve!
