{"id":3842,"date":"2020-03-25T01:57:43","date_gmt":"2020-03-25T01:57:43","guid":{"rendered":"https:\/\/ausgrant.com.au\/?p=3842"},"modified":"2020-03-25T02:02:13","modified_gmt":"2020-03-25T02:02:13","slug":"covid-19-update","status":"publish","type":"post","link":"https:\/\/ausgrant.com\/au\/covid-19-update\/","title":{"rendered":"COVID-19 Update"},"content":{"rendered":"\n<p>Our thoughts are with those who are directly impacted by the Coronavirus crisis. <\/p>\n\n\n\n<p>The government has announced a wide variety of stimulus measures to assist business cope with the Coronavirus situation.<\/p>\n\n\n\n<p>The stimulus offered is from multiple levels of government and for multiple purposes.<\/p>\n\n\n\n<p>A summary of the measures is available <a href=\"https:\/\/www.business.gov.au\/risk-management\/emergency-management\/coronavirus-information-and-support-for-business\">here<\/a>.<\/p>\n\n\n\n<p>AusGrant has taken measures to protect our staff and clients, and will be fully functional throughout this crisis to support the needs of our stakeholders.<\/p>\n\n\n\n<p>The deadline for R&amp;D Applications is specified in the&nbsp;<em>INDUSTRY RESEARCH AND DEVELOPMENT ACT&nbsp;1986<\/em>&nbsp;as 10 months after the end of an income year.&nbsp;The statutory deadline for companies to register R&amp;D activities conducted during the year ended 30 June 2019 (i.e. last financial year) is therefore 30 April 2020.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" href=\"https:\/\/mailchi.mp\/industry\/rd-tax-incentive-e-bulletin-correction-covid19-special-ebulletin?e=d4865f9c02\" target=\"_blank\">AusIndustry have recently announced<\/a>&nbsp;that:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>If a company\u2019s R&amp;D application for the YE 30 June 2019 income year cannot be made by the application deadline (30 April 2020) due to the effects of the COVID-19 pandemic, AusIndustry will allow the application to be made by 30 September 2020, without needing to request an extension;<\/li><li>If a company\u2019s R&amp;D application for the YE 30 June 2019 is unable to be lodged by 30 September 2020, the company may request a formal extension of time;<\/li><li>A company\u2019s registration number is still required&nbsp;when lodging&nbsp;the R&amp;D Schedule with the ATO;<\/li><\/ul>\n\n\n\n<p>This means that if a company seeks to derive their tax benefit arising from their claim for YE 30 June 2019 (by way of a cash refund or a reduction in balance of tax liability) in the immediate term, they must still first register the R&amp;D Activities with AusIndustry, and would not be able to defer registration until September.<\/p>\n\n\n\n<p>Where it is possible to do so, we would still recommend that companies still aim to lodge the R&amp;D Applications for the YE 30 June 2019 ASAP, so as to not defer any R&amp;D Tax benefit that may be accrued to the company for this period.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our thoughts are with those who are directly impacted by the Coronavirus crisis. The government has announced a wide variety <a href=\"https:\/\/ausgrant.com\/au\/covid-19-update\/\" style=\"float:right; padding-bottom:10px;\"><br \/><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3842","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>COVID-19 Update - AusGrant - Leading R&amp;D Grant Writers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ausgrant.com.au\/covid-19-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COVID-19 Update - AusGrant - Leading R&amp;D Grant Writers\" \/>\n<meta property=\"og:description\" content=\"Our thoughts are with those who are directly impacted by the Coronavirus crisis. 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