In appreciation of the abnormal market conditions Australian businesses are facing due to the COVID19 virus, there has been an extension in the period to process your R&D tax incentive claims. For the financial year 1 July 2018 to 30 June 2019, R&D Applications will need to be received by 30 September 2020.
This is welcomed by claimants and consultants alike, as the normal 30 April deadline would not be practical for a lot of companies.
It is a good move by the Government to allow this extension. We look forward to even more favourable R&D incentives in the future. Australia can come back strongly after COVID19 if the robust research and development sector is given more support.
If you need further information around the current R&D Tax Incentives, please reach out to BridgePoint Group’s R&D specialist, Alan Baghdasarayan, on 1300 656 141 or firstname.lastname@example.org