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March, 2022

Federal Budget March 2022 – R&D Tax Incentive Update (no major changes, thankfully!)

March 30th, 2022

Leading into the May 2021 and March 2022 budgets, there were no anticipated changes proposed to the R&D Tax Incentive, since the previously announced changes for FY22 had only recently been legislated and commenced. Based on a preliminary review of the 2022 budget material, no material changes seem to have been proposed to the R&D Tax Incentive, which, after a tumultuous period over the past decade, is good news! Interestingly, in the 2022 budget papers for the Industry, Science, Energy […]

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AusIndustry Bulletin – March 2022 and Pending FY21 Deadline

March 28th, 2022

Companies seeking to register R&D activities conducted during the year ended 30 June 2021 (companies that have a standard YE for tax) who are yet to do so should note that the registration deadline is 10 months after YE, on 30 APRIL 2022. The blanket and automatic extensions granted due to the COVID-19 pandemic do not apply any longer or for FY21 claims. AusIndustry have released in their March 2022 update bulletin a summary of issues relevant to the pending […]

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Statutory Deadline for FY21 R&D Claims is Next Month

March 21st, 2022

Companies seeking to register R&D activities conducted during the Year Ended 30 June 2021 (companies that have a standard YE for tax) who are yet to do so should note that the registration deadline is 10 Months after YE, 30 April 2022. The blanket and automatic extensions granted during COVID do not apply any longer or for FY21 claims. Many companies in QLD and NSW have recently been impacted by natural disasters, and extensions of time to lodge registrations may […]

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Federal Budget in March 2022 – R&D Tax Incentive is Again Not Likely to be a Focus…(Hopefully)

March 14th, 2022

The 2022 Federal Budget is due to be held in March 2022, which is earlier than the usual May timing, due to this year’s election. In the belated federal budget handed down in October 2020 (delayed due to COVID), reforms to the R&D Tax Incentive were a centrepiece. Leading up to the 2020 budget, the government was proposing substantial changes to the R&D Tax Incentive which were aimed at reducing the cost of the programme, but that had not yet […]

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