Home » News » Statutory Deadline for FY23 R&D Claims is THIS month

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 much more favorably. However, recent changes place a limit on the duration of extensions available.

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;
  • 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 online portal, and noting that it can be time consuming to set up this portal (particularly if registering for the first time) companies seeking to lodge FY23 claims who have not already done so should take urgent action now to ensure their submissions are on track.

    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.

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