Innercode: What We Do
Directors Andrew Flick and David Housler of Innercode are dedicated government grants consultants specialising in the R&D Tax Incentive for the software and technology industry. Together with our team of specialists, we help a broad community of software and technology companies to access government grants.
INNERCODE: WHO WE ARE
Andrew Flick and David Housler founded Innercode because they wanted to create something different.
Our combined understanding of R&D and Tax disciplines enables us to not only provide the required compliance of tax and accounting but unlocks the entitled benefits of the federally funded R&D Tax Incentive scheme.
With over 10 years of experience helping software and technology companies access government grants, Andrew and David have been continuously delivering results for our clients.
Innercode on Startups
We help startups get refunds through the R&D Tax Incentive program that provide a cash infusion that sustains their early years. For example, if you’re a software and technology startup and you’ve incurred $300k in R&D expenses from developing new software or technology, with no sales in that year, you would be in an unprofitable situation with a significant tax loss. With $300k in R&D expenditure through the R&D Tax Incentive, you could obtain a $135,000 tax refund through the extra R&D benefit and cashed out tax losses. The money from the tax refund can be used to further your development or for any other purpose you wish to use it for.
We help startups attract investors by qualifying them as an Early Stage Innovation Company (ESIC). By obtaining eligibility for ESIC, you can advise investors that they would get 20% of their investment back in tax savings as well as obtain a 10-year upside on the capital gain of their investment. ESIC could be the tipping point for an investor to join a round of investment in your company.
Innercode on Scaleups
We help scaleup companies get refunds through the R&D Tax Incentive program to help offset the cost of further developing their products and offering. Let’s say that you are a growing venture-backed Fintech company developing innovative products and spending $3,000,000 each year on R&D development including wages, contractors and overheads. Focusing on growth rather than profitability, you are in a tax loss position. With the R&D Tax Incentive, you could receive a $1,305,000 refund each year which can help drive the growth of your business.
We also help scaleups with their overseas marketing through the Export Market Development Grant. Entering overseas markets when you’re scaling can be a driver of new revenue and customers. With up to $770,000 on offer, the Export Market Development Grant can really help to establish connections overseas and boost sales.
Innovative Companies
Through R&D Tax Incentive program, we help established companies save on company tax which frees up resources within their company and enhance their financial position. The R&D Tax Incentive offers companies over $20m in turnover a non-refundable tax offset of 8.5% above the company’s tax rate for expenditure up to 2% of overall expenditure. In addition, for R&D expenditure over 2% of overall expenditure the company receives a 16.5% in non-refundable tax offset. With our ability to integrate company-wide R&D in one claim, we can maximise the overall benefit.
WORKING WITH US
Our hands on approach and technical knowledge enables us to do the heavy lifting when it comes to government grants.
We undertake an end-to-end process in identifying the grants you are eligible to claim. We maximise your benefit and write the submission documentation as well as assist with record-keeping requirements to the level that is required by the government departments. We aim to eliminate the endless merry-go-round process that most companies experience when applying for government grants. With a better understanding of your projects, we can locate and extract the critical information for us to provide advice that is tailored for your business.
Passion
We are passionate about a future for software and technology companies. As R&D Tax Incentive specialists, we are among the few in our profession dedicated to working with the software and technology sector to ensure they have access to the resources they need to support growth and innovation.
Experience
Experience is critical to be able to reliably deliver government grants programs. The finer details of these programs are often not publicised and can only be learnt working for clients through applications, government audits and engagements. Our wealth of knowledge comes from over 10 years of delivering government grants for software and technology companies.
Andrew is a registered tax agent and has a passion for software development. As a CPA, he combines his knowledge of government regulation and taxation with his passion for software development and technology. Andrew has a wealth of experience interviewing technical leads, engineers, and software developers to apply his knowledge and experience of the R&D scheme with the technical details of each unique R&D project.
David has a degree in Bachelor of Commerce (Accounting). His strong focus on accounting, government regulation and taxation lends itself to obtaining the best outcome for the clients in determining the expenses that can be claimed. David has extensive experience determining entity eligibility for the programs including complex structures and complicated scenarios.
WHAT WE THINK
Andrew Flick and David Housler believe in the Australian technology community.
We want to help small companies become big.
Every venture must start somewhere, but without the right support it can be tough to have the resources you need to turn your dream into reality. We want to be a key part of that support, providing an early-stage company resources before major investment. Once investment and momentum arrives, making each development dollar go further can be the difference between realising that dream or not.
We believe in an Aussie startup community.
We believe that Australia must support its own innovators, or they will seek support elsewhere, leave our shores and ultimately contribute to a foreign economy. We’re committed to helping start-ups get the support they need, the support they are entitled to, here at home first. If smart ideas are born here, developed here and succeed here, they can provide generations of benefit to our community.
We are passionate about a future for software and technology companies. As R&D Tax Incentive specialists, we’re among the few in our profession dedicated to working with the software and technology sector to ensure they have access to the resources they need to support growth and innovation.
