Industry Research and Development Act 1986

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

Division 2 - Registering for the R & D tax offset  

Subdivision A - Introduction  

SECTION 27   27   SIMPLIFIED OUTLINE  


The following is a simplified outline of this Division:

  • · The Board may register an R & D entity for R & D activities conducted during an income year.
  • · The Board may make findings about the nature of an R & D entity ' s activities both before and after registration.
  • · These findings bind the Commissioner for the purposes of any entitlement of the R & D entity to a tax offset under Division 355 of the Income Tax Assessment Act 1997 for the activities.
  • · The Board will register an R & D entity ' s activities consistently with any findings made about the entity ' s application. Any findings made about these activities after registration will, if necessary, automatically vary the entity's registration.
  • · Registrations can also be varied and revoked.



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