The tax offset for eligible R&D conducted from 1 July 2021 is now based on a premium on top of your corporate tax rate.
- Turnover of less than $20 million: For R&D entities with aggregated turnover of less than $20 million, the refundable R&D tax offset is your corporate tax rate plus an 18.5% premium
- Turnover of $20 million or more: For R&D entities with aggregated turnover of $20 million or more, the non-refundable R&D tax offset is your corporate tax rate plus an incremental premium.

The premium increments are based on your R&D Intensity. This is a percentage of your eligible R&D expenditure as proportion of your total expenditure for the year.
- All eligible R&D expenditure up to 2% R&D Intensity will receive a non-refundable R&D tax offset equal to your corporate tax rate plus 8.5% premium
- Additional eligible R&D expenditure above 2% R&D Intensity will receive a non-refundable R&D tax offset of your corporate tax rate plus 16.5% premium.

If you are claiming eligible R&D conducted up to 30 June 2021, the previous tax offset rates apply.

Depending on your company's annual turnover, the R&DTI provides either a refundable or non-refundable tax offset.
- 43.5% refundable tax offset is available to companies with an annual turnover of less than $20 million
- 38.5% non-refundable tax offset is available to companies with an annual turnover is more than $20 million.

Click here to view full funding guidelines on the provider's website.