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 355-545   355-545   Relevance for net income, and losses, of the R & D partnership  


For an *R & D entity that is a partner of an *R & D partnership, none of the following:


(a) any expenditure the R & D entity is taken to have incurred because of this Subdivision;


(b) any amount the R & D entity can deduct under this Subdivision;


(c) any *recoupment the R & D entity is taken to have received because of this Subdivision;

are to be taken into account in determining the *net income of the R & D partnership, or any *partnership loss of the R & D partnership, for an income year.


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