Accountants and small businesses are rejoicing now that one part of their annual taskload has been made significantly easier.
R&D SmartTax’s award-winning R&D Application Wizard is a new software tool that eliminates months of work in the annual R&D tax claim process. For small businesses undertaking smart activities in a tax loss position, the 2010 R&D tax claim can lead to a cash cheque from the ATO for up to $750,000.
Previously companies had to either read volumes of tax legislation or engage expensive consultants at up to $1000/hour just to find out if they were eligible and to complete the official R&D Application form. This meant multiple meetings, phone calls, emails and time away from valuable business work over many months.
But now the R&D Application Wizard can do all of that in just one simple online step! Users simply log on and immediately step through the easy questions in just a few minutes. When ready, users then elect to receive their R&D Application form by email for review and lodgement with AusIndustry.
R&D SmartTax’s online tools, the R&D Application Wizard and R&D Eligibility Wizard recently won the 2010 SMART100 award for Australian innovation run by Anthill Magazine for being the “innnovations that help other innovators”.
Feedback from accountants for the R&D Application Wizard has also been extremely positive, highlighting the critical role that they play in helping small businesses access their rightful entitlements at tax time. In addition to the R&D Application Wizard Micro and Entrepreneur versions for companies, there are R&D Application Wizard licence packs especially for accountants to use for their clients, helping them to:
- Get certainty about R&D tax rules,
- Save time reading R&D tax legislation, rulings and case law,
- Complete R&D Applications in hours not weeks,
- Get fast, easy identification of eligible R&D projects,
- Generate real value with vital R&D tax cheques, and
- Save thousands on consulting fees and business down-time filling out forms
The R&D Application Wizard is ready now for all R&D tax claims to be made for the 2010 financial year. This is for R&D activities undertaken between 1 July 2009 and 30 June 2010. R&D Applications must be lodged with AusIndustry by 30 April 2011.
Click Here to get started and get your R&D tax cheque the easiest and quickest from R&D SmartTax today. Any queries please contact us at [email protected] or visit us at www.smarttax.com.au.