IT 2635W - Notice of Withdrawal
Income tax : syndicated research and development arrangements
Notice of Withdrawal
Taxation Ruling IT 2635 is withdrawn with effect from today.
1. IT 2635 provides guidance on the operation of the former section 73B of the Income Tax Assessment Act 1936 (ITAA 1936) on syndicated research and development (R&D) arrangements. It limits the R&D income tax concessions under the former section 73B to the extent that a claimant is effectively at risk for the expenditure.
2. Section 73B of the ITAA 1936 has been repealed by the Tax Laws Amendment (Research and Development) Act 2011.
3. IT 2635 has no ongoing relevance, and is therefore withdrawn without replacement.
Commissioner of Taxation
12 April 2017
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