Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 355.110

                   For the purposes of this Division, if:

                     (a)  apart from Subdivision H (prepaid expenditure) of Division 3 of Part III of the Income Tax Assessment Act 1936 , an * R&D entity can deduct an amount under section 355- 205 or 355-480 for an income year (the present year ) or an earlier income year; and

                     (b)  that Subdivision applies to the calculation of that amount; and

                     (c)  the entity can deduct an amount, as a result of that application of that Subdivision, for the present year;

the entity is taken to be able to deduct under section 355- 205 or 355-480 (as appropriate) the amount referred to in paragraph (c) for the present year.

Note:          Section 355- 205 is about deductions for R&D expenditure. Section 355-480 is about deductions for earlier year associate R&D expenditure.

Table of sections

355-200    What this Subdivision is about

355-205    When notional deductions for R&D expenditure arise

355-210    Conditions for R&D activities

355-215    R&D activities conducted by a permanent establishment for other parts of the body corporate

355-220    R&D activities conducted for a foreign entity

355-225    Expenditure that cannot be notionally deducted