Your refund will depend on 2 factors in the last fiscal year. How much money you spent on R&D, and whether you made a profit or loss.
If you're a typical early stage startup in pre-revenue development mode, and have not made a profit
On a $100k spend it looks like this:
|Your R&D spend||$100,000|
|You pay us fixed fee (medium project)||$2,999|
|You claim 43.5%||$43,500|
|You get back||$40,501|
If you are making a profit, the R&D tax incentive reduces the tax that will otherwise be payable. Contact us to discuss how this works if you need more information on how this works.