Administration of the R&D Tax Incentive is undertaken in accordance with the Industry Research and Development Act 1986.
The Australian Government has made new versions of 2 legislative instruments under this Act:
The previous versions of these instruments had sunset clauses that were due to automatically expire this year.
The instruments have been remade, and remain broadly the same as was previously in place.
The main notable change is that extensions of time for submissions related to the R&D Tax Incentive are now typically limited to 92 days, rather than 3 months. This means the period of extension is uniform, regardless of the month in which the application for an extension of time is made.