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R&D Tax Credit

R&D Tax Registrations – Deadline this month

October 1st, 2024

Companies seeking to register R&D Activities conducted during the Year Ended 31 December 2023 (companies that have a December Year End for tax) who are yet to do so should note that the Registration Deadline is the end of October 2024. The extensions granted during COVID no longer apply, and the statutory deadlines revert to normal (10 months after the end of a company’s financial year). There are mechanisms available under the IR&D Act and IRD Decision making provisions that allow for […]

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Deadline approaching for lodgement of Overseas Findings for R&D Activity first conducted in FY24

June 10th, 2024

Companies seeking to claim expenditure for overseas activity incurred by an Australian company under the R&D Tax Incentive must apply separately to claim these costs by first lodging an Overseas Finding Application with AusIndustry. In addition to general eligibility criteria, there are specific and extensive rules to determine whether expenditure on overseas activities is eligible under the R&D Tax Incentive. Generally, expenditure incurred by Australian companies on R&D activities conducted overseas can only be eligible for the R&D Tax Incentive where: The […]

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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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High Court Denies Special Leave to the Commonwealth on Behalf of Employees

November 28th, 2023

Various laws determine the manner in which a company’s assets are distributed to employees and creditors in the event of an insolvency event. In a decision handed down by the New South Wales Supreme Court in 2022,  the order of priority of payments in a winding up where employee debts and secured creditor claims exist was considered. The matter was Spitfire Corporation Limited (in liquidation) and Aspirio Pty Ltd (in liquidation) [2022] NSWSC 340. The court considered whether Refundable R&D […]

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