A CFO’s guide to R&D tax and government incentives

Navigating R&D tax incentives with Dr. Rita Choueiri

Tax offsets and government incentives can be a great way for CFOs and finance leaders to improve financial outcomes – if they understand how to leverage them effectively. The Research & Development (R&D) Tax Incentive is one of Australia’s most significant funding mechanisms, offering companies the chance to recover a portion of their innovation investments. But while the benefits are substantial, navigating the process is complex.

Dr. Rita Choueiri, a Partner and the National Leader of R&D Tax at RSM, is a recognised authority in this space. With decades of experience advising businesses across industries, Rita brings deep expertise and a passion for helping businesses maximise their potential through strategic R&D investment. Here, she shares her insights on how CFOs can unlock the full value of R&D tax incentives while ensuring compliance and strategic alignment.

Why do government incentives matter for CFOs?

When discussing the importance of government incentives, Rita is direct: “Many businesses don’t realise just how much support is available to them. The R&D Tax Incentive isn’t just a refund or a cost-saving measure—it’s a strategic tool that can drive innovation, attract investors, and improve cash flow.”

With the rising costs of innovation, particularly in technology, life sciences, and manufacturing, CFOs need to be proactive in identifying funding opportunities. “I often see businesses underclaiming or missing out because they assume their work doesn’t qualify,” Rita notes. “But eligibility is broader than most people think—it’s not just lab coats and test tubes.”

Understanding R&D eligibility: What qualifies?

One of the biggest misconceptions around R&D tax incentives is that they apply only to traditional scientific research. Rita emphasises that this is far from the truth. “The definition of R&D under the incentive is much broader than most assume. It includes software development, engineering, and even food technology. If a company is solving a technical problem and there’s a level of experimentation involved, they should explore whether they qualify.”

Rita advises CFOs to start by assessing their projects with a few key questions:

• Are we developing or improving a product, process, or service?
• Is there a level of technical uncertainty that required us to experiment or iterate?
• Have we documented our processes and findings?

“It’s about demonstrating that there’s a systematic approach to solving a problem,” she explains. “Good documentation is key—without it, even the most innovative projects may not qualify.”

Maximising R&D tax benefits: Practical strategies for CFOs

CFOs have a critical role in ensuring their companies take full advantage of available incentives. Rita offers some practical advice on how to optimise claims:

1. Engage early and strategically.

“Don’t wait until tax time to think about R&D. Engage early with your finance and technical teams to align your projects with incentive eligibility criteria.” Rita stresses the importance of integrating R&D planning into broader business strategies.

2. Maintain strong documentation.

“One of the most common pitfalls is a lack of documentation,” Rita notes. “Having clear records of your experiments, iterations, and technical challenges strengthens your claim. It’s not just about compliance; it’s about maximising the claim’s success.”

3. Collaborate with experts.

While internal teams can manage some aspects of R&D tax claims, Rita strongly advises working with specialists. “it’s a complex space, and the regulations evolve. Having an experienced advisor can make the difference between a successful claim and a missed opportunity.”

Beyond tax incentives: the role of CFOs in innovation strategy

“CFOs today aren’t just number crunchers—they’re strategic enablers,” Rita says. “They need to balance compliance with growth, ensuring their organisations take full advantage of available incentives while steering investments in the right direction.” 

She highlights the increasing importance of government incentives beyond R&D tax credits, including grants and state-level funding initiatives. “R&D tax incentives are a great starting point, but companies should also explore other forms of support, such as commercialisation grants and industry-specific funding.” 

Final thoughts: Rita’s advice to CFOs

Rita shares a final piece of advice: “Think beyond compliance—use incentives as a strategic tool. The businesses that thrive are the ones that integrate R&D tax planning into their broader financial and innovation strategies.”

For CFOs looking to navigate this complex landscape, Rita and the RSM team are dedicated to helping businesses unlock the full potential of government incentives. “It’s not just about reducing costs—it’s about driving real innovation and positioning your company for long-term success.” 

FOR MORE INFORMATION

If you’re a CFO looking to explore R&D tax incentives and government funding opportunities, reach out to Dr. Rita Choueiri and the RSM team. With the right strategy, you can turn your innovation investments into a powerful driver of business growth.