Statutory Deadline for FY21 R&D Claims is Next Month

March 21st, 2022

Companies seeking to register R&D activities conducted during the Year Ended 30 June 2021 (companies that have a standard YE for tax) who are yet to do so should note that the registration deadline is 10 Months after YE, 30 April 2022.

The blanket and automatic extensions granted during COVID do not apply any longer or for FY21 claims.

Many companies in QLD and NSW have recently been impacted by natural disasters, and extensions of time to lodge registrations may be available to such companies.

However, a new limit on extensions came into effect on 1 January 2021. From this date, an extension of time to submit an application is capped at 3 months after the statutory deadline.

In our experience, extensions of time:

  • should only be pursued if absolutely necessary, and if suitable reasoning can be provided as to why the extension of time is required; and
  • are better regarded by AusIndustry if lodged prior to the original lodgement deadline.

Extensions of time must be submitted by the new R&D Tax Incentive online portal, and noting that it can be time consuming to set up this portal, companies seeking to lodge FY21 claims who have not already done so should be taking urgent action now to ensure their submissions are on track.

Please get in touch with our office if you require assistance.

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