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 D - Examining registrations  

SECTION 27L   AUTOMATIC VARIATIONS SO REGISTRATION IS CONSISTENT WITH FINDINGS  

27L(1)  
If an R & D entity is registered under section 27A for an income year, then while a finding is in force:


(a) under subsection 27B(1) in relation to the application for the registration; or


(b) under subsection 27J(1) in relation to the registration;

the registration is taken always to have existed in a form consistent with the finding.

Note 1:

This subsection will cease to apply if the finding is set aside on review (see Division 5 ).

Note 2:

A finding has no effect to the extent of any inconsistency with a finding already in force under this Part in relation to the R & D entity (see section 32B ).

27L(2)  
If:


(a) a finding under subsection 28A(1) (advance findings about the nature of activities) comes into force for an R & D entity about an activity conducted during an income year; and


(b) the R & D entity is later registered under section 27A for the activity for the income year;

then, after registration and while the finding is in force, the registration is taken to exist in a form consistent with the finding.

Note 1:

This subsection will cease to apply if the finding is set aside on review (see Division 5 ).

Note 2:

A finding has no effect to the extent of any inconsistency with a finding already in force under this Part in relation to the R & D entity (see section 32B ).

27L(3)  
This section has effect for the purposes of this Act and the Income Tax Assessment Act 1997 .




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