We remind you that section 70C of the Tax Administration Act 1994 requires the R&D loss tax credit statements need to be filed by the earlier of:
- the date on which the person files the tax return, or
- the final tax return due date (usually 31 March of the following year for customers with agent’s extension of time).
Taxpayers that choose to file their income tax return before the final due date for filing must also file their R&D loss tax credit statement by this earlier date.
We do not have discretion to accept a late R&D loss tax credit statement under section 70C of the Tax Administration Act 1994.