• Item 8

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Pre 29 January 2001 disposal profits

    (relevant to Australian owned R&D only)

    Plant balancing adjustments (profits)

    If the consideration receivable is greater than the written-down value of the unit of plant (paragraph 73B(23)(f) of the ITAA 1936), include at item 8 the amount by which the consideration exceeds the written-down value, up to the limit of the difference between the cost of the plant and its written-down value.

    At E and F include the amount of any assessable balancing adjustment (assessable income).

    The amount at E must equal the amount at F.

    Balancing adjustments sale of pilot plant (profits)

    If the consideration receivable is greater than the written-down value of the unit of post 23 July 1996 pilot plant (paragraph 73B(24B)(f) of the ITAA 1936), include the amount by which the consideration exceeds the written-down value, up to a limit of the difference between the cost of the plant and its written-down value. Include this amount in the calculation of the net base amount at item 8.

    At E and F, include the amount of any assessable balancing adjustment (assessable income).

    The amount at E must equal the amount at F.

    For more information, see:

    • Subsections 73B(1), 73B(4B), 73B(15AA), 73B(23) and 73B(24B) of the ITAA 1936
    • Guide to the R&D tax concession.
    Last modified: 01 Jun 2011QC 24211