TOOLBOX  /  CAPABILITIES

RESEARCH & DEVELOPMENT

We work closely with our clients to examine their challenge statement, current tools, and ideal solutions.

De-Risking

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.

RRA Funding

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
In collaboration with our clients, our in-house design team strive to only design streamlined solutions that carve off as many unnecessary steps and materials as possible.
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OLITEK PTY LTD
1/58 Frederick Street, Northgate QLD 4013
T:  07 3260 5390  |  F:  07 3256 9960
info@olitek.com.au
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