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Firms intimidated by complex R&D incentive
26 February 2015
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9 minute read
Australia’s R&D Tax Incentive program is generous but for those lacking specialist knowledge in the area, it can be intimidating. As a result, many small business Accountants and Advisors pass up R&D opportunities, sacrificing customer relationships and potential revenue in the process.
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Fortunately, earning revenue through the R&D Tax Incentive is much easier than many accountants think.
As a leading firm working in the R&D tax space, PwC has observed a number of misconceptions about the R&D program that exist in the market, such as:
- To claim you must make a scientific breakthrough
- Small businesses can only claim if they have perfect record keeping, including timesheets
- The product you make must be successful
- It takes months to prepare and lodge your claim
- You need to be an expert in R&D jargon to claim
In response to this industry confusion, PwC has created Nifty R&D to help simplify and speed up the R&D Tax Incentive claim process.
Nifty R&D is a cloud-based web application that helps small businesses and startups claim their R&D Tax Incentive online. Built and run by a small team within PwC Australia Nifty R&D allows anyone to sign up and start creating their claim instantly. The product supports all users throughout the process with dedicated R&D Specialists assigned to each account.
In addition, the Nifty R&D Affiliate Program is a revenue share agreement where small business Accountants and Advisors can process their client’s R&D claim with the help of a PwC R&D specialist. Through this platform, any Accountant or Advisor can provide a seamless experience to their clients without the need for specialist R&D staff. Support is also available to identify eligible businesses and maximise their R&D claim.
The Nifty R&D Affiliates Program provides accountants with all the tools and support they need to provide R&D Tax Incentives services to clients, including:
- Cloud delivered software
- Access to PwC’s team of over 120 R&D specialists across Australia
- R&D Training to ensure your team can identify eligible clients
- Facilitated software that guides you through the process of making a R&D claim
You can sign up for an Affiliate account instantly and once all the paperwork is completed, you can start servicing your client. Given the deadline for FY14 claims is only 28 business days away, there has never been a better time to get started.
If you would like to know more, then please check out http://www.niftyforms.com/affiliate or call Nifty R&D on 1800 778 939 or contact Mark O’Neill, the Nifty R&D Product Owner directly on
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