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Changes to Extension of Time request processes for R&D Applications

AusIndustry have announced and released an updated version of the Extension of Time (EOT) form through the R&D Tax Incentive (R&DTI) customer portal.

Companies are required to use the portal when applying for any extension of time to submit an R&D application if it is not able to be submitted by the original deadline (with the deadline being approximately 10 months after the end of the financial year).

The updated form provides clarity around the 2 types of extensions you can apply for.

• Category 1 is a request for an extension of 14 days or less, made prior to the statutory deadline. These types of requests are automatically approved once you provide the necessary information.
• Category 2 is a request for:
  • an extension more than 14 days, made prior to the statutory deadline, or 
  • an extension of any period, made after the statutory deadline.

To make a Category 2 application for an extension of time, a company must:

• explain why the extension is sought; and
• provide relevant supporting evidence for the reasons given

R&D Applications for the FY24 period (YE 30 June 2024) are due in the coming months.

Please get in touch with our office if you require assistance, would like to speak to someone about a potential claim, or check out our website for more information.