R & D Tax Incentive:
A reminder to all businesses and companies registering for the Research and Development (R&D) Tax Incentive to get their applications in on time. The Administrative Appeals Tribunal (AAT) recently agreed with Innovation Australia’s refusal to accept a late R&D Tax Incentive registration.
Registration deadlines: R&D Tax Incentive applicants must register R&D activities within 10 months after the end of their income year.
The R&D Tax Incentive registration cut off dates:
– a company with a non-standard income period of 1 January 2015 to 31 December 2015 must lodge its registration application with AusIndustry by 31 October 2016
– a company with a standard income period of 1 July 2015 to 30 June 2016 must lodge its registration application with AusIndustry by 30 April 2017.
Extra time for lodging late R&D registrations is at the discretion of Innovation Australia and generally only available in limited circumstances
