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Potential AusIndustry and ATO Lodgement Concessions for Bushfire Impacted Companies

February 6th, 2020

Many areas of regional Australia have been impacted by severe bushfires over the summer.

Published on the AusIndustry website recently is the following extract:

• If you’ve been impacted by these bushfires, we don’t want you to be concerned about your R&D Tax Incentive claims. Now is the time to focus on yourself, your family and community;
• If your business is in an impacted area listed on the ATO website, and has been affected by this disaster, find out how we can assist you with your R&D Tax Incentive claims by contacting AusIndustry.

These messages compliment those of the ATO which have given extra time for lodgement of returns and activity statements.

It is likely that AusIndustry assistance would come in the form of extensions of time to submit requests for information, or for lodgement of R&D applications, which may be relevant to impacted companies yet to submit FY19 R&D Applications (April deadline).

Extensions of time for lodgement of R&D Applications are determined with reference to Part 3 of the Industry Research and Development Decision‑Making Principles 2011.

If seeking to apply for an extension, companies (or their advisors) should get in touch with AusIndustry ASAP, ideally before the original deadline. It is important that only companies with genuine reasons seek extensions, and the process will often require provision of evidence to support that the reason for the extension is in line with the IR&D Decision-Making Principles.