Procept Appointed RRA

Following Procept’s extensive involvement in the Australian R&D industry, the Australian Government has appointed Procept as a Registered Research Agency in June, 2010.

This appointment is for the purpose of performing contracted research and development for eligible Clients claiming the R&D tax concession under Section 73B of the Income Tax Assessment Act 1936.

The R&D Tax Concession is a broad-based, market driven tax concession which allows companies to deduct up to 125% of qualifying expenditure incurred on R&D activities when lodging their corporate tax return. A 175% Incremental (Premium) Tax Concession and R&D Tax Offset are also available in certain circumstances.

Procept’s status as a Registered Research Agency enables our Clients to realise the following benefits for their R&D programs;

• expenditure for Australian R&D work contracted to Procept, 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.
• prepayments for contracted Australian R&D may be claimed by companies up to twelve months in advance of the work being carried out by Procept.
• small and medium-sized firms are able to undertake R&D programs with Procept without having to invest in costly R&D equipment and expertise.

For more information on how Procept can help you take advantage of the R&D Tax Concessions, please contact Procept on +61 3 9224 6636 or visit the AusIndustry website for further information on the RRA program.

About Procept

Procept works with leading companies, helping them to design, engineer, and bring to market innovative products and services. With a multidisciplinary team of strategists, project managers, system architects, hardware engineers and software engineers, Procept’s innovative solutions span multiple technologies and platforms.  

Procept works across a broad spectrum of industries, including agriculture, healthcare, mining, defence, clean energy, industrial control and automation, and consumer electronics.  Founded in 2006, Procept is headquartered in Melbourne, Australia with offices in Barcelona and facilities in Bendigo, Victoria.

Visit www.procept.com.au or www.procept.es

For more information please contact:

Procept APAC
Sean Worth, Venture Manager
Tel: +61 3 9224 6636
Email: sean.worth@procept.com.au

Procept Europe
Adrian Crouch, Director
Tel: +34 93 218 6964
Email: adrian.crouch@procept.com.au