Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 26

    The objects of this Part are:

  (a)   to provide integrity for the working out of tax offsets under Division   355 (about R&D) of the Income Tax Assessment Act 1997 ; and

  (b)   to increase certainty through findings about matters relevant to the working out of those tax offsets; and

  (c)   to improve access for small and medium R&D entities to quality research services by maintaining a register of research service providers.

Note:   The integrity mentioned in paragraph   (a) is provided, for example, by:

(a)   the Board registering entities seeking these tax offsets; and

(b)   the Board conducting compliance checks on those entities.