Commonwealth Consolidated Acts Commonwealth Consolidated ActsAn R&D entity may be entitled to a tax offset for R&D activities. The tax offset may be a refundable tax offset if the R&D entity's aggregated turnover is less than $20 million.
To be entitled to the tax offset, the R&D entity needs one or more notional deductions under this Division.
There are 2 main kinds of notional deductions. One is for expenditure on R&D activities. The other is for the decline in value of tangible depreciating assets used for R&D activities.
Note: All of these notional deductions require the R&D entity to be registered for the R&D activities under Part III of the Industry Research and Development Act 1986 .
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