Home » News » Statutory Deadline for FY24 R&D Claims is next month

Statutory Deadline for FY24 R&D Claims is next month

Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2024 (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, and 30 APRIL 2025.

The blanket and automatic extensions granted during COVID do NOT apply any longer or for FY24 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 via the AusIndustry R&D Tax online portal. Companies seeking to lodge FY24 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.