Our R&D Tax team still have some availability to speak with you and start your FY2020 claim before the Christmas closure. While the registration deadline was extended in relation to FY2019 claims, the end of April lodgment deadline is back in place for the June 2020 year end claims. Speak to our experts now to begin the claim process and make sure you take advantage of the boost to cashflow the refundable offset can provide. Book a time with the team here.
Updated guidance
The R&D Tax Incentive Guide to Interpretation has recently been update by the Department of Industry, Science, Energy and Resources. This refreshed document provides insight on AusIndustry’s interpretation of the legislation governing the R&D Tax Incentive and outlines their expectations in regard to claims. As ever, our team will ensure this guidance is considered when preparing your claim.
Recent cases
A recent decision by the AAT has affirmed AusIndustry’s finding in the Royal Wins Pty Ltd Vs Innovation and Science Australia. The tribunal found that the activities registered were not in accordance with the legislative requirements. This decision again highlights the need for claimants to articulate a clear hypothesis at the outset of a project. It is also a reminder of the need to maintain documentation that aligns with the stated hypothesis.
