Variation to section 68CB(2) of the Tax Administration Act 1994

This variation applies to a person with a balance date of 30 May 2021 or later, for the 2020/21 income year, who is seeking the Commissioner’s approval of their research and development activities by filing a general approval application under s 68CB of the Tax Administration Act 1994.

This variation effectively extends the existing COV 20/10, by ensuring that persons with a balance date of 30 May 2021 or later can also gain the full advantage of the three months by which the relevant date has been extended.

Tax Information Bulletin Vol 33 No 10 - November 2021