The Research and Development Tax Incentive (R&DTI) provides a tax offset for eligible R&D activities, and in this way encourages companies to undertake R&D that benefits Australia.
It has two components:
A refundable tax offset for entities whose turnover is under $20million A non-refundable offset for entities with more than $20million turnover
Eligible companies can receive up to 43.5% of their R&D expenditure as a rebate