INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 355 - Research and Development  

Subdivision 355-G - Clawback of R & D recoupments  

SECTION 355-445   355-445   Recoupment could relate to R & D activities  


The condition in this section is met if:


(a) the *recoupment is received, or the entitlement to receive the recoupment arises, during an income year (the trigger year ); and


(b) either:


(i) the recoupment is of expenditure incurred on or in relation to certain activities; or

(ii) the recoupment requires expenditure (the project expenditure ) to have been incurred, or to be incurred, on certain activities.
Note:

Paragraph (b) includes expenditure incurred in purchasing a tangible depreciating asset to be used when conducting R & D activities.


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