Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 355 - Research and Development  

Subdivision 355-J - Application to R & D partnerships  

SECTION 355-500   What this Subdivision is about  


This Subdivision modifies the rules in this Division for partners of R & D partnerships.

In particular, the rules about deducting R & D expenditure are modified to allow a partner to deduct the partner's proportion of the R & D partnership's expenditure on R & D activities.

A partner of an R & D partnership may also be able to deduct under this Subdivision the decline in value of partnership assets used for R & D activities.


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