Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister may, by legislative instrument, prescribe fees, or a method of working out fees:
(a) for making applications to the Board under Part III; or
(b) for the purposes of paragraph 33(4)(e).
(2) The fees must not be such as to amount to taxation.
• The Board may, on application by an R&D entity, register the R&D entity for R&D activities. This registration is needed before the R&D entity can be entitled to a tax offset (an R&D tax offset ) under Division 355 of the Income Tax Assessment Act 1997 for the R&D activities.
• The R&D entity can seek an advance finding to get early notice about whether an activity is considered to be an R&D activity.
• The R&D entity can seek a finding that an activity cannot be conducted in Australia. The finding is needed before expenditure incurred on the activity can count towards an R&D tax offset.
• The Board may register entities as research service providers capable of providing research services to R&D entities.
• Internal and external review can be sought for certain decisions under this Part.
• The Board may make general determinations about how it will exercise its powers, and perform its functions and duties, under this Part. The Board must act in accordance with such a determination.
• The Board may register an R&D entity for R&D activities conducted during an income year.
• The Board may make findings about the nature of an R&D entity's activities both before and after registration. This includes findings made on application by the R&D entity after registration.
• These findings bind the Commissioner for the purposes of any entitlement of the R&D entity to a tax offset under Division 355 of the Income Tax Assessment Act 1997 for the activities.
• The Board will register an R&D entity's activities consistently with any findings made about the entity's application. Any findings made about these activities after registration will, if necessary, automatically vary the entity's registration.
• Registrations can also be varied and revoked.
• An R&D entity can seek a finding (an advance finding ) about whether an activity is an R&D activity.
• An advance finding binds the Commissioner for the purpose of working out tax offsets ( R&D tax offset s) under Division 355 of the Income Tax Assessment Act 1997 .
• An R&D entity can seek a finding that an activity cannot be conducted in Australia.
• An R&D tax offset will only be available for expenditure incurred on an activity conducted outside Australia if a finding that the activity cannot be conducted in Australia has come into force.
• The Board may also make a finding about whether particular technology is core technology for R&D activities.
• An effect of a finding that the technology is core technology for the R&D activities is that an R&D tax offset will not be available for expenditure incurred in acquiring, or in acquiring the right to use, the technology for the R&D activities.
• The Board may register entities as research service providers capable of providing research services to R&D entities.
• Near the end of each financial year, registered research service providers will be asked if they want their registrations to continue for the next financial year.
• Registrations can be varied and revoked.
• Details of registrations are set out in a register available on the internet.
• An entity affected by a reviewable decision may ask the Board to conduct an internal review of that decision.
• The entity, or another entity affected by the resulting internal review decision, may ask the Administrative Appeals Tribunal to review the internal review decision.
• The Board may make general determinations about the circumstances or way in which it will exercise its powers, or perform its functions or duties, under this Part.
• The Board must act in accordance with such a determination.
• A determination cannot override the decision - making
principles.