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22.01.2022 We have received the latest information from AusIndustry about the extension to the deadline for lodging R&D Tax Incentive claims for the Financial Year 2018-19. The original deadline of April 30th is now extended to September 30th, a decision motivated by the uncertainty caused by #covid19 outbreak, marking a step towards more favourable R&D incentive rules in the future. At BourkeHood, we offer comprehensive consulting services on processing and lodging your claims to max...imise both your chances of success and achieve the highest % back to your business. Contact us directly by sending us a message.

18.01.2022 To follow on from my recent post on the #federal government #stimuluspackage, the NSW government have decided to chip in with their own $2.3b health boost and economic stimulus package. $700m of this package will be directed at the NSW #health system and the remaining to be spent as concessions and injections into #NSW businesses through some of the following activities. - waiving #payrolltax for businesses with payrolls of up to $10 million for three months;... - 2021 FY payroll #tax threshold limit increased to $1m; and - Waiving of #state fees for targeted industries including #restaurants, bars, cafes and trades.

03.01.2022 An Interesting post by Liam Christopher on what he thinks would be good strategies to compliment the Federal and State Stimulus packages.... What’s everyone’s thoughts on what the government should be doing right now to support people and industry during this crisis? I have a few but I’m interested to hear what other people think of these and their own ideas also?... 1, an immediate 3 month ban on rent and mortgage repayments so people are not bankrupt and homeless after this 2, an immediate full wage subsidy to cover the costs of employees sent home so small and medium sized businesses who can support them don’t close up 3, immediate early access for all Australian’s to their own super so people have access to funding and liquidity to survive 4, an order that all churches and religious owned properties be made available to those without a home to isolate in and quarantined sections for them to stay safe in 5, an proposal to large CBD hotel owners that the government can lease their entire buildings and convert them into emergency hospitals with rooms for new patients if required 6, an immediate innovation grant for anyone enabling others to survive isolation through digital business, online job creation, courses and essential product development 7, first right to work in any available service jobs for all those who lost their livelihoods in the air and travel sector 8, cash incentives for any distilleries who can convert alcohol production into essential hand sanitiser products and likewise for onshore clothing manufacturers who can supply materials and production for essentials like gloves and masks 9, a national hotline for anyone stuck in isolation in domestic violence relationships and immediate access to safe housing for them 10, import and distribute millions of test kits and use the national census and polling address as databases to ensure people can test safely at home and mail them in to protect thousands of workers from unnecessary exposure by doing it manually and create a safe and scalable testing solution for people. Keen to hear what everyone else thinks?

01.01.2022 These are testing times for all businesses. However, BourkeHood may be able to help your company harness a vital cash injection. If your company has any qualifying R&D projects within the last accounting period, we can remotely work with you to assess your earnings and file your claim.

01.01.2022 With Agri-Tech, or #AgTech on the rise, your company will inevitably be impacted. Key points to keep in mind while formulating your strategy is how you compete, how you adapt, and how you perceive R&D! According to the National Farmers Federation, food imports only account for 15% of Australia's daily food supply, making the agriculture sector one of the key drivers of the domestic economy, valued at $62.2 billion in 2018-19. Its value has increased by 34% in the last 20 year...s, due to improved productivity, new technologies, more flexible labour management, better knowledge management, and developing economies of scale - many of which can classify as core or supporting R&D activities. Here, you should bear in mind two things: first, if you're not innovating, it's likely your competitors are. Continued and ongoing process improvements should be part of your standard operations and business strategy. Make sure to keep your pulse on latest industry's news, new technologies, patents on certain fresh produce - with flexibility at the core of your strategy to constantly re-invest and adapt. Secondly, if you're not optimising your revenue model by claiming back on your development costs, this is the best time for you to start. So far, agriculture and #AgTech have been somewhat under-represented in terms of R&D incentives. In order to understand why it is important to realise what might seem a standard procedure for an agricultural worker (such as implementing the use of a new fertilizer or testing a different type of soil to increase their outputs) can be an R&D-eligible activity that they are unaware of. Innovation takes place across this industry in its daily operations: process improvements to increase yield, developing and testing new feeding techniques, improving packaging and processing methods to increase shelf-life, implementing the use of new fertilizers, upgrading irrigations systems, and more. More, with #VerticalFarming and #IndoorFarming suited for the urban environment, advanced technology and processes will be essential to help crops adapt to growing vertically, on biodegradable soils, and under artificial light conditions. We are likely to experience exponential growth in innovation within this sector, presenting a myriad of opportunities for R&D. If you have not yet claimed this year, bear in mind the fast-approaching deadline of April 30th to lodge applications for R&D activities from the previous financial year. Get in touch with us to book in for a consultation on how we can help - by working with us, clients maximise their chances of success as we are able to correctly assess the scope of their eligible R&D activities, help to evidence progress, define the hypotheses your projects assumed, and show the exact progression of a systematic approach undertaken - all crucial elements that AusIndustry looks at when reviewing applications.