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April, 2024

30 April Statutory Deadline for FY23 R&D Claims – One Week to Go

April 23rd, 2024

There is one week to go until the deadline for FY23 R&D Registrations. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (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, and 30 APRIL 2024. The blanket and automatic extensions granted during COVID do NOT apply any longer or for FY23 claims. Extensions of time may be available in […]

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Court of Appeal rules the ATO is lawfully entitled to share information in case of taxpayer charged by the Commonwealth DPP for attempting to unlawfully obtain R&D tax offset

April 15th, 2024

The matter concerns an individual charged by the Commonwealth DPP for attempting to unlawfully obtain a refund under the R&D Tax Incentive. Before being charged, the taxpayer was compulsorily examined by the ATO. The individual had applied to stay the proceedings against them partly by arguing that the ATO had unlawfully distributed transcripts of examinations with other government agencies (namely AusIndustry). The primary judge of the District Court agreed with the taxpayer, and the prosecution applied to the Queensland Court […]

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2023 Annual Report for IISA: Update on R&D Tax Legal matters and litigation

April 8th, 2024

Industry Innovation and Science Australia (IISA) is the government department responsible for determining whether companies’ activities meet the legislative criteria eligible under the R&D Tax Incentive. The 2022-23 Annual Report for IISA was recently released, and a section of the report provides an update on legal matters and litigation relevant to the department. When comparing the 2022-23 Annual Report with the equivalent publications from previous years, a continued decline in the number of R&D Tax disputes arising between companies and […]

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Statutory Deadline for FY23 R&D Claims is THIS month

April 2nd, 2024

Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who have yet to do so should note that the Registration Deadline is 10 Months after the YE, and 30 APRIL 2024. The blanket and automatic extensions granted during COVID do NOT apply any longer or for FY23 claims. Extensions of time may be available in certain situations, and extension applications lodged BEFORE the original deadline are viewed […]

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