ATO Indicate Returns Lodged On or After 17 December 2021 are Less Likely to be Finalised Before Christmas Closure

December 13th, 2021

The ATO have announced it will close for Christmas at midday Friday, 24 December 2021 and reopen on Tuesday, 4 January 2022.

The ATO have also noted in a statement quoted on AccountantsDaily that returns or activity statements lodged on or after 17 December 2021 are less likely to be finalized before the closure.

Companies planning forthcoming lodgment of tax returns and R&D Schedules around this time should take note of this information if they are planning cashflows arising from receipt of Refundable R&D Tax Offsets.

Company tax returns that include refunds for Refundable R&D Tax Offsets claims, are also potentially subject to a separate set of integrity reviews (over and above standard reviews for tax return refunds).

To see if you are eligible for the R&D Tax Incentive, fill out our eligibility form here.

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