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