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Recent AusIndustry explanations on registration processing timeframes

September 2nd, 2024 Recent AusIndustry explanations on registration processing timeframes

This time of year (shortly after financial year end) companies can often be eager to receive their R&D Registration notices to facilitate lodgement of R&D Claims within their company tax returns.
This is particularly so for SME tax loss companies who may be seeking to receive Refundable R&D Tax Offsets within their tax returns.
In a recent update, AusIndustry has commented on factors which impact registration processing times. The update noted:
  • There are several factors which may impact the time it takes to register your R&D Tax Incentive application.
  • If your registration is taking longer than you think it should, it is likely that we are taking a closer look at your application.
  • This often happens if:
    • you are registering for the first time
    • we have provided guidance through an engagement meeting and/or correspondence previously
    • your application provides limited detail
    • your application describes an activity which may be excluded
    • we have identified other risks or eligibility concerns.
  • We also need to confirm that:
    • you are an eligible entity
    • you have selected the correct income period
    • your application is complete.
  • We also need to check if you have a positive Advance or Overseas Finding, or are relying on the clinical trials determination.
  • These checks and processes are part of the R&D Tax Incentive program integrity framework.
In our experience, AusIndustry registration processing times are usually fairly efficient and on the whole, faster than they have been in prior years.
Registration processing times may however vary year to year for a given company. If applications are being reviewed which leads to longer processing times, this is part of AusIndustry performing their important role in conducting reviews of applications which contributes to upholding integrity of the programme.
Please get in touch with our office if you require assistance, would like to speak to someone about a potential claim, or check out our website for more information.

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