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R&D Tax Registration Deadline for YE 30 June 2020 is April
April 6th, 2021Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2020 (ie FY20 – last financial year) who are yet to do so should note that the Registration Deadline is 30 April 2021. Last year, AusIndustry applied a blanket extension to all companies’ FY19 R&D Applications due to COVID. We are of the understanding that this blanket extension will NOT be available for FY20 applications, and the 30 April 2021 statutory deadline (10 months after the end of the financial […]
ATO and AusIndustry Joint Podcast on R&D Tax Incentive
March 1st, 2021AusIndustry and the ATO have published a joint podcast on business.gov.au this week, featuring Brett Challans (ATO) and Kelly Wiggins (DISER). The podcast discusses key R&D Tax Incentive issues relevant to each department, including: Eligible entities; The self-assessment process; Categories of ineligible expenditure; Records relevant to substantiating the R&D process through systematic progression of work i.e. from hypothesis to conclusions. E.g. emails, project plans, annual reports, lab notebooks and meeting minutes; Records relevant to substantiating expenditure including invoices, contractors and […]
AusIndustry Consultation on Redrafting of Guide to Interpretation Document
August 31st, 2020AusIndustry’s original Guide to Interpretation was published in January 2016, and has been considered the primary document for detailing how AusIndustry interprets key elements of the definition of ‘R&D activities’ as defined in the legislation. Material from the Guide to Interpretation was often referred to by AusIndustry during compliance processes, and it detailed AusIndustry’s position on complex issues, such as: Assessment of the purpose for which R&D Activities were undertaken; The scope of activities that are specifically excluded from consideration as […]
AusIndustry Lodgement Concessions on Finding Applications due on 30 June 2020
April 20th, 2020Companies seeking to claim overseas expenditure, or seeking an advance determination on eligibility of a project must lodge a finding Application period to the end of the financial year in which the activity is first conducted (i.e. 30 June for activities in FY20). During a finding process, AusIndustry provides a binding determination of eligibility, and an enormous amount of work must be put into such applications, including the collation of a vast amount of supporting evidence. There is no provision […]
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News & Research
News & Research
News & ResearchThe AFR reported earlier in the year that leading technology companies (including Atlassian, Airtasker, Canva and Deputy, among others) had sent a letter to the ATO offering to convene a workshop with the ATO to “improve the understanding of software […]
R&D Tax Registration Deadline for YE 30 June 2020 is April
Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2020 (ie FY20 – last financial year) who are yet to do so should note that the Registration Deadline is 30 April 2021. Last year, AusIndustry applied a […]
