BridgePoint Group Government Grants & Incentives team recently had the opportunity to work with a client – a leading commercial refrigeration manufacturer – who initially doubted their eligibility for the R&D Tax Incentive. Despite having an R&D Laboratory on site, our client was unaware of the potential benefits they could obtain through the R&DTI.
To address this challenge, we embarked on a collaborative process with our client, beginning with a comprehensive explanation of the R&D definition and its various criteria. By closely examining their projects, we were able to identify which initiatives qualified as R&D activities.
After careful evaluation, we selected one specific project that met the criteria for R&D. BridgePoint Group Government Grants & Incentives team then proceeded to prepare and lodge an Application Form for the R&D Tax Incentive, ensuring that all necessary documentation and requirements were met.
The results of our efforts were remarkable. Our client successfully obtained a cash benefit of $50,000 through the approved R&D Tax Incentive claim. This financial boost allowed them to invest further in their innovative endeavors, supporting their ongoing research and development initiatives.
By assisting our client in recognising their eligibility and guiding them through the application process, we not only helped them unlock the potential of the R&DTI scheme but also facilitated their growth and advancement in the commercial refrigeration industry.
Through this successful collaborative process between BridgePoint Group Government Grants & Incentives team and our client, their team gained a deeper understanding of the benefits of R&D Tax Incentives, enabling the company to harness available resources and drive innovation, and ensuring their sustained success in an ever-evolving marketplace.
If you would like to engage an R&D Tax Incentive specialist to determine whether or not your company qualifies for the R&D Tax Incentive then please reach out to Alan Baghdasarayan, Government Grants & Incentives Director who will provide a free 30-minute consultation.