LEARN MORE ABOUT THE SOUTH AFRICAN R&D TAX ALLOWANCE FOR BUSINESSES
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The South African R&D Tax incentive is set to help maintain South Africa’s position as Africa’s economic powerhouse and grow the competitiveness of South Africa on the global stage.
The R&D Tax incentive aims to:
- promote increased private sector R&D investment in SA
- enhance South Africa’s role as an attractive hub for R&D and Innovation for multinatonal companies to conduct R&D
- promote R&D and Innovation-led industrial development and job creation in South Africa
Companies undertaking Research and Development [R&D] in South Africa can qualify for an Additional 50 % ‘Super’ Tax Deduction on Operational R&D Expenditure in terms of Section 11[D] of the Income Tax Act
Investment in Plant and Machinery for R&D can qualify for Accelerated Depreciation on 50/30/20 basis over 3 years
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Maximise your R&D Tax Allowance deductions
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A straightforward process to qualify for the allowance
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Avoid adding complexity and costs to your business
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Technical advice and support when required
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Collecting the relevant information to verify your R&D expenditure
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Reinvest annual tax savings to build long-term capacity for innovation and R&D
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Assess whether your R&D projects and expenses can qualify for the Tax Allowance
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Preparation of Application for Pre-Approval
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Support with technical issues and queries from DST
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Support with progress Reporting and Record-Keeping requirements
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R&D Workshops for your employees