Don’t Wait, Apply for R&D Tax Incentive By 30th September 2020

From devastating bush fires to global pandemics, 2020 has already been a year that has severely impacted our regular everyday lives. It’s probably safe to say that R&D Tax Incentive claims probably haven’t been high on the agenda. The good news is that the Australian government has extended the deadline to apply for R&D Tax Incentive Claims for the period of 1st of July 2018 to 20 June 2019 (FY19) income year. The new deadline date is now the 30th September 2020 (previously 30th April). A fantastic result for anyone who may be experiencing a disruption or has simply been putting it off. 

Contact Noah Connect if you’re looking to meet this deadline and submit your R&D application. We’ll help you organise crucial aspects of your application, including:

  1. Assessing Eligibility Criteria

Applying for the R&D Tax Incentive is a complex process that’s highly nuanced. We’ll use our vast experience to determine whether your business activities are defined as “experimental” under the program, and help you demonstrate how your proposed idea addresses an R&D knowledge gap.  

  1. Getting financials and records in order

Every R&D Tax Incentive Claim requires comprehensive supporting documents to substantiate the activities registered and costs being claimed. We’re here to help you review and assess your records to assure compliance with the program. 

Now more than ever it’s important to take advantage of tax incentives available to you and your business. If you’re looking to apply before September 30 for FY19 or compile a claim for FY20, don’t wait. Contact an experienced team of professionals, who’ll support you throughout all stages of the application. Get in touch today, it’s worth the effort.