Update: Upcoming R&D Tax Incentive application deadline and AusIndustry processing times

1 October 2024

R&D Tax Incentive registration applications must be lodged within ten months after the end of an R&D entity’s income period. Companies with a substituted accounting period ended 31 December 2023 that wish to register R&D activities must do so through the R&D Tax Incentive customer portal by 11.59 pm (AEST), Thursday 31 October 2024.

If unable to meet this deadline, an R&D entity can apply for an extension, which must be done through the R&D portal. An extension application should generally be made before the application is due. Extension requests will be considered in light of the reasons given, evidence supplied, whether the R&D entity has applied for any extensions before, and anything else that may be relevant, and will not automatically result in actually getting an extension.

If you are considering submitting an R&D claim for the first time, or are unsure about how to apply AusIndustry’s guidance or the legislation, it is important to seek advice as soon as possible.

AusIndustry R&D application processing times 

AusIndustry has previously advised its service standard for processing R&D applications and providing companies with Notices of Registration is to have 95% of applications processed within:

• 40 business days for first time registrants 
• 20 business days for applications submitted within six months of the end of an income period
• 80 business days for applications submitted six months or more after the end of an income period.

Companies should consider these service standards against their tax return lodgement deadlines and, if expecting a refund, as part of cash flow planning.

For 30 June balancers should be aware of the potential for processing times to be longer if applications are lodged after 31 December 2024.

If you have any questions, please feel free to contact us.