Manage the cashflow responsibly for your tech venture by lodging an Advance Finding this June. Your venture’s cashflow will thank you for it in August.
So you’ve spent the best part of the year researching & developing your innovation to reveal the world.
You know that the R&D Tax Incentive will play its part in really helping offset the rising costs of the build and aim to lodge the application first thing in July.
But, so does every Edutech, Foodtech, Fintech, Fittech, Martech & Biotech. Over 14,000 in fact. What does this equal for most government departments?
Delays. Bottlenecks. Extended Service Delivery Times.
The expected cash inflows for August & September spill over into November and further.
Calls through to a tax office call centre can only achieve so much to expedite the process. Another case escalation to ‘high priority’ loses its effect around the 1,000 mark.
The spend on your developers doesn’t necessarily budge. Cash burn rates don’t shift because of a sluggish grant.
The expected windfall of $80,000 on a $200,000 R&D spend – taking months longer than anticipated – is particularly dire in v0.9 of building your MVP.
Doesn’t have to be this way, of course.
Putting the uncertainty of the R&D Tax Incentive cashflow issue to bed is as straight-forward as an ‘Advance Finding’.
For the 95% that are rightfully working on their startup (to the ignorance of great grant strategy), an ‘Advance Finding’ is essentially an R&D Tax Incentive application prepared around late May to June for purposes of gaining ‘pre-approval’ on your R&D project.
Deliberating through your application during a quieter period also helps AusIndustry process your application faster. Human nature.
Jump to the front of queue of $1.8 billion in R&D Tax Incentive funds awarded annually – and all by just attending to the inevitable a few weeks earlier in June.
Startup A in our example, learned from the mistakes first venture around and will be sure to have even their Advance Finding lodged first in the door.
Manage the cashflow responsibly for your tech venture by lodging an Advance Finding this June with the help of our R&D Tax Incentive consultants. Your venture’s cashflow will thank you for it in August.