To make sure the incentives only apply to innovative activities, the eligibility criteria includes a second limb determines that the company is involved in innovation.
The company can 'self‑assessed' against either a principles-based or objective test, or by receiving a determination from the Australian Tax Office.
Though its investors who will set the standard required, which at least in the early days would suggest that objective (points based) qualification will be prized.
As such we've taken the next step to assist your company by finding and securing 100 or more points through the 8 gateways provided.
To pass the objective test a company must secure 100 points from a range criteria including; the tax return research and development ratio (prior year), award of an 'Accelerating Commercialization Grant', completion or undertaking an eligible accelerator program, receipt of share investment from 3rd parties of $50,000 or more, registration of an innovation or standard patent or plant breeders right or licensing the same, co-development / commercialization of an innovation with a listed higher education provider or research and development partner.
With so many great businesses looking to qualify ESIC Directory has stepped in, to actively help companies find consultants, agencies and institutions with a track record of innovation and the eligibility qualifications needed to award status to our listings. Feel free to email us if you can confidently recommend an advisor, program or service provider.