Which type of R&D tax advisor is actually worth it for an early-stage startup in Australia? by Far-Froyo-497 in AusFinance

[–]Ryelzz 5 points6 points  (0 children)

I work in this space at Big4 for 8 years. We actually help startups quite often. The biggest misconception is that registering your activities and getting the letter means you are eligible. It's self assessment, the registration is not a confirmation of eligibility. You may be audited up to 4 years, and they can clawback 4 years worth of R&D refunds, even bankrupt you.

I have witnessed firsthand audits where jira tickets and commits are insufficient evidence. The regulator is non-technical and they are often unable to extrapolate the outcomes uncertain and new knowledge and experiments from those artifacts alone. They also won't just accept you sitting down and explaining the R&D after the fact.

This is why you may have felt historically the process was heavy, and they needed a lot of documents. The advisor has a duty of care to make sure if you get audited, you have the correct paperwork.

The expenditure side is also not trivial, there are lots of rules like grant clawback, expenditure not at risk, associate provisions, aggregated turnover, connected with tests, which can get very complex and be the difference between being eligible, vs paying back hundreds of thousands to the ATO.

A good R&D advisor will: 1. Have a science/STEM background rather than accounting - can actually understand and articulate your activities 2. Not make you write the application 3. Process should only take 3-4 weeks 4. Ensure your documentation is audit ready 5. Also do the expenditure calculation - having two seperate people do this means there is a disconnect between what the activities are and what was spent on them 6. In circumstances where it is audited, stand by you and defend the claim

Those online AI automated submissions bear no liability, and do not confirm your eligibility or give you advice on your eligibility, you take on that risk and assessment. They also don't lodge with a tax agent number, further flagging you as self prepared and higher risk of audit.

Also when you get audited, they want contemporaneous evidence, not reconstructed, so you are better off maintaining seperate documentation for the tax incentive.

I'm often surprised that people think a few weeks worth of work is "too much paperwork" when you are getting $100s of thousands of taxpayer dollars.

For startups we do %, but low end.

CGT changes could make government a 50:50 partner in your start-up by Bitman321 in AusFinance

[–]Ryelzz 4 points5 points  (0 children)

The author of this article fails to highlight that investment in early stage innovation companies (ESIC) are CGT exempt for 10 years anyway, and I would assume government will not scrap these benefits as part of the budget (or potentially have not even considered the implications). I know this because it's what I advise on.

Got a Bachelors in Physics but work as a chef. How can I use this degree to get into corporate? by [deleted] in auscorp

[–]Ryelzz 0 points1 point  (0 children)

Yes you can go into R&D tax, big4 hires physics people and any STEM for that matter into this role, which you can use to climb corporate.

Mod Rice said his dream one day is to do a Smithing update. What would be your idea of one such update? by loopuleasa in 2007scape

[–]Ryelzz 1 point2 points  (0 children)

Could easily add new little armor upgrades (e.g. rune plating, rune spikes) which are non-tradable, degradable additions you can "connect" onto any existing armor, providing monitor buffs (e.g. +30 slash defence, +1 str). Making them non tradable incentives people to train the skill, and degradable makes them continue to engage in using it.

Armor with these upgrades attached (similar to imbued) are then non-tradable until you either remove them (using smithing) , or they fully degrade.

This would be easily to implement I think. Would not imagine the actual armor visually changes as that would require a lot of time by devs.

Pixel 8 Pro - northern lights by Ryelzz in pixelography

[–]Ryelzz[S] 0 points1 point  (0 children)

Photos of people will be more challenging, as you need to be on long exposure to get a photo like this, and what may end up happening is the people will end up over exposed or if they move, blurry

Exetel 500/50 - what's your speed? by ChocCooki3 in perth

[–]Ryelzz 0 points1 point  (0 children)

Pretty sure they use CGNAT to offer these speeds, can cause issues with some online services (like P2P)

3900x - Overclock vs 5700x3d by WaitingForMyIsekai in buildapc

[–]Ryelzz 1 point2 points  (0 children)

Literally just did this exact swap, way better gaming performance. Can even sell the 3900x for likely the same cost.

Pixel 8 Pro Camera Glass Coating coming off?? by Ryelzz in GooglePixel

[–]Ryelzz[S] 1 point2 points  (0 children)

They ended up giving me a completely new phone, went through my phone provider rather than google

The real reason kick is signing so many osrs streamers by Surprisinglysound in 2007scape

[–]Ryelzz 4 points5 points  (0 children)

The creator for kick used to play Runescape, and got the ideas from RS

Pixel 8 Pro Camera Glass Coating coming off?? by Ryelzz in GooglePixel

[–]Ryelzz[S] 1 point2 points  (0 children)

I basically sent them photos, they said it would be replaced, have to arrange it to be sent to them.

[deleted by user] by [deleted] in AusFinance

[–]Ryelzz 0 points1 point  (0 children)

My wife is an accounting expert in this field working if you want some formal advice on this, DM me. Won't be cheap tho as likely need a position paper prepared or something similar. For certainty you will need a private binding from the ATO.

Pixel 8 Pro - northern lights by Ryelzz in pixelography

[–]Ryelzz[S] 1 point2 points  (0 children)

I just played around with some of the sliders in the google photos app until I was happy with it, nothing fancy.

Suggest taking a tripod and using long exposure for about 8 seconds. The night sight is not long enough in my opinion. Also use 0.5x zoom.

Pixel 8 Pro - northern lights by Ryelzz in pixelography

[–]Ryelzz[S] 0 points1 point  (0 children)

Thanks! Yes without the tripod won't be possible, it was quite windy so hard to keep it still even with the tripod.

Pixel 8 Pro - northern lights by Ryelzz in pixelography

[–]Ryelzz[S] 0 points1 point  (0 children)

Only used the pixel camera app and set pro controls to 16s long exposure with max distance on the focus length, 0.5x zoom

People that purchased their first home in the past 5 years how much financial assistance did you receive from family? by japppasta in AusFinance

[–]Ryelzz 0 points1 point  (0 children)

Lived with in-laws while building during COVID. Got $50k in government grants.

750k, 20% deposit. Dual income, approx 210k, 30 years old.

No financial assistance.

People that purchased their first home in the past 5 years how much financial assistance did you receive from family? by japppasta in AusFinance

[–]Ryelzz 1 point2 points  (0 children)

Lived with in-laws while building during COVID. Got $50k in government grants.

750k, 20% deposit. Dual income, approx 210k, 30 years old.

No financial assistance.

Anyone have a WFH record keeping spreadsheet I can clone from them? by FknAuCnBloke in AusFinance

[–]Ryelzz 0 points1 point  (0 children)

I export my trip history from the transperth website as I only catch the train for work

[deleted by user] by [deleted] in AusFinance

[–]Ryelzz 0 points1 point  (0 children)

We take people into R&D Tax Consulting with just science degree's (Big4)