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 355-535   355-535   Disposal of R & D results for R & D partnerships  


In addition to its application apart from this section, section 355-410 (disposal of R & D results) also applies to each partner of an *R & D partnership with such changes as are appropriate having regard to:


(a) amounts (the results amounts ) of a kind set out in subparagraphs 355-410(1)(b)(i) to (v) that the R & D partnership receives or becomes entitled to receive in an income year; and


(b) the principle that any amount to be included in the partner ' s assessable income for the income year for a results amount should be the partners proportion of the amount arising under subsection 355-410(2) for the results amount.

Note:

The ordinary application of section 355-410 will apply to any of the partner ' s deductions under this Division that do not relate to the R & D partnership.


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