The CLOUD software system making R&D tax claims a Synnch!

Far left: Founder of Synnch Andrew Antonopoulos at their launch event at Robina

Far left: Founder of Synnch Andrew Antonopoulos at their launch event at Robina

The Gold Coast is not known for making waves in the financial front, but two of the CDG team members recently attended the launch event for Synnch at Bond University at Robina and they were very impressed, with the new financial direction taken by the coastal company.

Many small business need to juggle various roles and being across your finances is an important one and gathering the right evidence for the ATO can be time consuming and onerous.

The R&D Tax Incentive is a cornerstone of nation-wide efforts to drive innovation, providing close to $3 billion worth of rebates back to businesses that have lodged a claim.

Collating some records for the ATO, can be particularly painstaking and time intensive. Including generating time sheets for team members who worked on a R&D project, going back over two financial years.

This is a big burden for small businesses, even when you receive the R&D Tax Incentive from the ATO, so, it would be very frustrating for part or complete applications are rejected by the ATO.

Synnch takes a lot of the burden and frustration away providing small businesses a simple dashboard of what the ATO needs to receive an R&D tax incentive refund and it connects to other financial applications such as XERO.

Synnch provides a digital record keeping and project management tool that ensures all supplied material complies with government requirements, application dates are met, and importantly all files are stored in one location. This is to minimise the possibility of losing material at vital points in the application process.

It removes the burden of time taken to record and recall the correct pieces of the puzzle that the ATO need, taking businesses an average of 10 minutes a week.

CDG are relieved that the Synnch team took a dip into waters navigating their way through and ATO compliance sharks, so that us and other small business can swim freely, simply and safely!