Closing Date for 2005/06 R&D Tax Concession

Application for Registration of R&D Activities must be lodged 10 months after the end of a company�s financial year. For most companies, this means that a 30 April 2007 deadline will apply.

Companies in loss should register before they lodge their tax return.

As the processing of registration can take up to three weeks at this time of year it is important that you do not leave the lodgement of your application to the last minute. We will require your documentation to prepare the application by 31 March 2007.

Companies wishing to register for the R&D Tax Concession must also remember to have in place project plans and other appropriate supporting documentation before lodging their application.

Please contact us as soon as possible to start work on your application.

R&D 7 Feb 2007

2007 EMDG expense payments

The 30th of June 2007 is the final day for expenses to be paid (acquitted in EMDG terminology) and therefore to be allowed as an expense in the 2007 EMDG application. If you are paying an expense by cheque, that means that the cheque has to be appear on a bank statement dated on or before the 30th of June 2007.

If you are intending to claim for overseas representatives and/or marketing consultants, we recommend that you contact us prior to 30 June 2007 or as soon as possible thereafter to ensure to find out what will be needed to substantiate the claim and to ensure that the documentation is in order.

Changes to the EMDG act effective from 1 July 2006 could have an impact to the amounts that can be claimed under Overseas Representation and Marketing Consultants. If you need any information on how this could impact on your application, please contact us.