Industry Research and Development Act 1986

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

Division 3 - Other findings  

Subdivision A - Introduction  

SECTION 28   28   SIMPLIFIED OUTLINE  


The following is a simplified outline of this Division:

  • · An R & D entity can seek a finding (an advance finding ) about whether an activity is an R & D activity.
  • · An advance finding binds the Commissioner for the purpose of working out tax offsets ( R & D tax offsets ) under Division 355 of the Income Tax Assessment Act 1997 .
  • · An R & D entity can seek a finding that an activity cannot be conducted in Australia.
  • · An R & D tax offset will only be available for expenditure incurred on an activity conducted outside Australia if a finding that the activity cannot be conducted in Australia has come into force.
  • · The Board may also make a finding about whether particular technology is core technology for R & D activities.
  • · An effect of a finding that the technology is core technology for the R & D activities is that an R & D tax offset will not be available for expenditure incurred in acquiring, or in acquiring the rights to use, the technology for the R & D activities.



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