One of the major goals of our development and testing phase is equipment de-risking.

Before completion, every piece of bespoke machinery we build undergoes a necessary number of de-risking stages. We build test rigs and closely monitor these rigs to examine and then improve key processes and components.

Our systemised concept testing ensures that every build is a successful one.

An important part of the Government's commitment to Research and Development (R&D) is facilitating access by small and medium sized companies to expert R&D services, particularly those residing in public sector research organisations.

The Industry Research and Development Act 1986 provides for the establishment of Registered Research Agencies (RRAs). A RRA is an organisation approved by Innovation Australia which is capable of performing contracted R&D, in one or more classes of research activity, on behalf of eligible companies, or through a group of companies who have entered into a collaborative arrangement.

Olitek is accredited and registered as an RRA for the purpose of performing "contracted" R&D to eligible companies claiming the R&D tax concession under Section 73B of the Income Tax Assessment Act 1936.

The advantages of dealing with Olitek as a RRA are:

1. Expenditure for Australian R&D work contracted to an RRA, within approved classes of activity, is eligible for the full concession in the year of income, irrespective of the annual R&D expenditure of the claimant; that is the normal annual expenditure threshold of $20,000 is waived.

2. Prepayments for contracted Australian R&D may be claimed by companies up to twelve months in advance of the work being carried out.

3. Small and medium-sized firms are able to undertake R&D programs without having to invest in costly R&D equipment and expertise.

For more information on the scheme: www.ato.gov.au/randd