INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986

PART III - FUNCTIONS RELATING TO THE R & D TAX OFFSET  

Division 3 - Other findings  

Subdivision C - Findings about activities to be conducted outside Australia  

SECTION 28C   FINDINGS ABOUT ACTIVITIES TO BE CONDUCTED OUTSIDE AUSTRALIA  

28C(1)  
The Board must, on application by an R & D entity for a finding under this subsection about an activity, do one or more of the following:


(a) find that all or part of the activity is an activity (the overseas activity ) that meets the conditions in section 28D ;


(b) find that all or part of the activity is not an activity that meets the conditions in section 28D ;


(c) if justified in accordance with the decision-making principles - refuse to make a finding about all or part of the activity.

Note 1:

A finding, or a refusal to make a finding, is reviewable (see Division 5 ).

Note 2:

For requirements of applications, see section 28G .

Note 3:

An effect of a finding under paragraph (a) is that a tax offset may be available for expenditure incurred on the overseas activity after the finding comes into force (see Division 355 of the Income Tax Assessment Act 1997 , in particular paragraphs 355-210(1)(d) and (e) of that Act).

Note 4:

Section 32A deals with the decision-making principles.

28C(2)  
For the purposes of this Act and the Income Tax Assessment Act 1997 , a finding under subsection (1) comes into force at the start of the income year in which the application for the finding is made.

28C(3)  
This section has effect subject to section 32B (findings cannot be inconsistent with any earlier findings).




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