Global Daily Tax News, Australian R And D Tax Relief Applications Due, (Oct 17, 2023)
The Australian Taxation Office has highlighted the upcoming deadline for taxpayers to register their research and development activities to claim the research and development tax incentive.
The deadline applies for taxpayers whose fiscal year follows the calendar year, as taxpayers must register their activities within 10Â months from the end of their income year.
For taxpayers whose income year ended on December 31, 2022, a research and development tax incentive application should be filed by October 31, 2023. Taxpayers unable to meet the deadline may request an extension of time.
Separately, the agency has highlighted the October 28, 2023, deadline for quarterly business activity statements (BAS).