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November, 2024

Changes to Extension of Time request processes for R&D Applications

November 25th, 2024

AusIndustry have announced and released an updated version of the Extension of Time (EOT) form through the R&D Tax Incentive (R&DTI) customer portal. Companies are required to use the portal when applying for any extension of time to submit an R&D application if it is not able to be submitted by the original deadline (with the deadline being approximately 10 months after the end of the financial year). The updated form provides clarity around the 2 types of extensions you […]

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ATO Release First R&D Tax Incentive Transparency Reporting Data

October 8th, 2024

As now required by law, The Australian Taxation Office (ATO) has released its first annual Research and Development (R&D) tax transparency report on entities claiming the R&D tax offset. The information the ATO published includes: name of the R&D entity claiming the R&D tax incentive and their ABN/ACN; entity’s total expenditure on R&D (known as total notional deductions claimed – label Z in Part A of the R&D tax incentive schedule) less any feedstock adjustments (label B in Part B […]

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‘Made in Queensland’ Round 7 Grant Applications

September 23rd, 2024

The Queensland Government has announced that Round 7 grant applications for their Made in Queensland (MIQ) Grant will open on September 24th.   MIQ offers grants up to $2.5 million for Queensland small to medium manufacturers. The program is designed to help manufacturers increase their international competitiveness, productivity and innovation, and generate high-skilled jobs for the future by purchasing and implementing new and advanced equipment or technologies as part of operations. Whilst companies that can attain grant funding should look […]

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Recent AusIndustry explanations on registration processing timeframes

September 2nd, 2024

This time of year (shortly after financial year end) companies can often be eager to receive their R&D Registration notices to facilitate lodgement of R&D Claims within their company tax returns. This is particularly so for SME tax loss companies who may be seeking to receive Refundable R&D Tax Offsets within their tax returns. In a recent update, AusIndustry has commented on factors which impact registration processing times. The update noted: There are several factors which may impact the time it […]

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