Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)

Schedule 11   Research and development

Part 1   Amendment of the Income Tax Assessment Act 1936

44   At the end of subsection 73Z(2)

Add "or the notional expenditure on foreign owned R&D by the eligible company in its group membership period for any year of income (see step 4 of the method statement in subsection 73RB(1))".