Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 43.35

    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 ).