Home » News » COVID-19 and the R&D Tax Registration Deadline for YE 30 June 2019 (AusIndustry Announcement)

COVID-19 and the R&D Tax Registration Deadline for YE 30 June 2019 (AusIndustry Announcement)

March 24th, 2020

Our thoughts are with all who are directly impacted by the Coronavirus crisis, and we remain optimistic that the resolve of Australians will prevail.

Swanson Reed has taken measures to protect our staff and clients, and will be fully functional throughout this crisis to support the needs of our stakeholders.

The deadline for R&D Applications is specified in the INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 as 10 months after the end of an income year. The statutory deadline for companies to register R&D activities conducted during the year ended 30 June 2019 (i.e. last financial year) is therefore 30 April 2020.

AusIndustry have announced today that:

If a company’s R&D application for the YE 30 June 2019 income year cannot be made by the application deadline (30 April 2020) due to the effects of the COVID-19 pandemic, AusIndustry will allow the application to be made by 30 September 2020, without needing to request an extension;
If a company’s R&D application for the YE 30 June 2019 is unable to be lodged by 30 September 2020, the company may request a formal extension of time;
A company’s registration number is still required when lodging the R&D Schedule with the ATO;

This means that if a company seeks to derive their tax benefit arising from their claim for YE 30 June 2019 (by way of a cash refund or a reduction in balance of tax liability) in the immediate term, they must still first register the R&D Activities with AusIndustry, and would not be able to defer registration until September.

Where it is possible to do so, we would still recommend that companies still aim to lodge the R&D Applications for the YE 30 June 2019 ASAP, so as to not defer any R&D Tax benefit that may be accrued to the company for this period.

Swanson Reed have resources available over the coming months to ensure that company’s R&D Applications can be processed thoroughly, efficiently and swiftly.

Source: AusIndustry

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 Trustindex verifies that the original source of the review is Google.  Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.
  
 
 
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   Daniel McGregor  
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 Trustindex verifies that the original source of the review is Google.  I have been using Swanson Reed for my clients for more than a decade.  Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients.
Highly recommended.
  
 
 
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   John  
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 Trustindex verifies that the original source of the review is Google.  Damian and the rest of the team at Swanson Reed have been supporting us for several years.  We always appreciate their insights, expertise, and efforts.
  
 
 
      Posted on Google  
   
   Rueben Rajasingam  
 6. June, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  Experienced responsive Team. They have been a great help to me and my company navigate the R&D tax claim process and have provided invaluable advice.
  
 
 
      Posted on Google  
   
   Enrique Esquivel  
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 Trustindex verifies that the original source of the review is Google.  Damian and the team at Swanson Reed have been extremely helpfully and professional during all of our consultations. Highly recommended.
  
 
 
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 Trustindex verifies that the original source of the review is Google.  
  
 
 
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   Anatole Kononewsky  
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 Trustindex verifies that the original source of the review is Google.  The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
  
 
 
      Posted on Google  
   
   Payam Toloo  
 2. June, 2022
 
 
 Trustindex verifies that the original source of the review is Google.  Damian Smyth and his team are very helpful, supportive and experts in their field of R&D Tax claims. I'm always happy with the work they do and been a customer of their for over 5 years.
  
 
 
      Posted on Google  
   
   Melissa Doddy  
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 Trustindex verifies that the original source of the review is Google.  The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end.  Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
  
 
 
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   Gary Watson  
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 Trustindex verifies that the original source of the review is Google.  We can highly recommend Swanson and Reed as an R & D accountant. We have worked with them for several years now as they make our R & D claim so easy and communicate quickly with both us and our accountant.
  
 
 
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   Rob van den Bergh  
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 Trustindex verifies that the original source of the review is Google.  Always professional.
  
 
 
  
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COVID-19 and the R&D Tax Registration Deadline for YE 30 June 2019 (AusIndustry Announcement)

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