Income Tax Assessment Act 1997
An amount (the notional amount ) that an *R & D entity can deduct under this Division is disregarded except for the purposes of:
(a) working out whether the R & D entity is entitled under section 355-100 to a *tax offset; and
(b) a provision (of this Act or any other Act) that refers to an entitlement of the R & D entity under section 355-100 to a tax offset; and
(c) a provision (of this Act or any other Act) that:
(i) prevents some or all of the notional amount from being deducted; or
(ii) changes the income year for which some or all of the notional amount can be deducted; and
(d) a provision (of this Act or any other Act) that includes an amount in assessable income wholly or partly because of the notional amount; and
An example is Subdivision 20-A , which may include in assessable income a recoupment of a loss or outgoing if the entity can deduct an amount for the loss or outgoing.
(e) a provision (of this Act or any other Act) that excludes expenditure from:
(i) the *cost base or *reduced cost base of a *CGT asset; or
(ii) an element of that cost base or reduced cost base.
An example is section 110-45 , which may exclude deductible expenditure from elements of the cost base of an asset.
Subsection (1) does not apply to amounts that the *R & D entity can deduct under the following: (a) subsection 355-315(2) ; (b) subsection 355-475(1) ; (c) subsection 355-525(2) .