R&D Tax Incentive

The R&D Tax Incentive is a government program designed to encourage businesses to invest in research and development activities. By offering tax credits or deductions, it reduces the financial burden of innovation, making it easier for companies to create new products, processes, or technologies. This support aims to stimulate growth, enhance competitiveness, and drive technological advancement within industries. Eligible businesses can claim a portion of their R&D expenses, ultimately lowering their tax bills or even receiving cash refunds, thus fostering a culture of innovation and economic development.