Deadline for R&D Registrations – 2 May 2023
The statutory deadline for companies to register R&D activities for the year ended 30 June 2022 is 30 April 2023. However, due to this day falling on a weekend, AusIndustry has revised this date to be Tuesday, 2 May 2023. The automatic extensions previously granted during COVID no longer apply for FY22 claims.
R&D registration applications must provide AusIndustry with details of the following:
- The experimental process of core R&D activities: hypothesis, experiments, evaluations and conclusions;
- Why the technical knowledge generated by a core activity is new;
- How the company determined that they could not have known the outcome in advance;
- How registered supporting R&D activities relate to a corresponding core activity;
- How a company has identified R&D activities within a project, rather than claiming an entire project.
R & D Registrations must now be lodged through the new R&D Tax Online Portal. Setting up this portal can take some time, so If you are yet to complete your FY22 R&D application you should be taking urgent action to allow for timely submission of your application.
If you need help with your submission to ensure the activities are assessed and registered correctly please contact your Karaco client services manager.