The Australian Taxation Office (ATO) has reminded taxpayers about the importance of registering eligible R&D activities within 10 months from the end of the income year to claim the R&D Tax Incentive.
To claim the R&D Tax Incentive through the ATO, taxpayers are required to register their eligible R&D activities. This registration must be completed within 10 months from the end of the income year.
If income year ended on 31 December 2022, taxpayers must submit R&D Tax Incentive application through the customer portal by 11:59 pm (AEDT), Tuesday 31 October 2023. If taxpayers can’t submit application by the deadline, there is an option to request an extension of time through the customer portal.
