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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 43 - Deductions for capital works  

Subdivision 43-A - Key operative provisions  

Operative provisions

SECTION 43-35  

43-35  Requirement for registration under the Industry Research and Development Act  

 View history reference ITAA 36
You may deduct an amount under this Division on the basis of using capital works for the purpose of conducting *R&D activities only if:


(a) you are registered under section 27A (registering R&D activities) of the Industry Research and Development Act 1986 for the R&D activities for an income year; or


(b) if you are an *R&D partnership - an *R&D entity, who was a partner of the R&D partnership at some time while the R&D activities were conducted, is registered under that section for the R&D activities for an income year.

Note 1:

R&D activities must be conducted in connection with a business carried on for the purpose of producing assessable income, see section 43-195.

Note 2:

You may still deduct an amount under this Division if you were registered for the R&D activities under former section 39J (Registration of eligible companies) of the Industry Research and Development Act 1986 (see section 355-200 of the Income Tax (Transitional Provisions) Act 1997).


 



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