Income Tax Assessment Act 1997
The *R & D entity has an amount under this section if: (a) a *balancing adjustment event happens in the present year for an asset *held by the R & D entity; and (b) the R & D entity cannot deduct, for the asset for an income year, an amount under section 40-25 as that section applies apart from:
(i) this Division; and
(c) the R & D entity is entitled under section 355-100 to *tax offsets for one or more income years for deductions under section 355-305 for the asset; and (d) the R & D entity is registered under section 27A of the Industry Research and Development Act 1986 for one or more *R & D activities for the present year; and (e) the R & D entity can deduct, for the present year, an amount under subsection 355-315(2) for the asset and the balancing adjustment event.
(ii) former section 73BC of the Income Tax Assessment Act 1936 ; and
This section applies in a modified way if the entity also has deductions for the asset under former section 73BA or 73BH of the Income Tax Assessment Act 1936 (see section 355-320 of the Income Tax (Transitional Provisions) Act 1997) .
The amount is an amount equal to the amount mentioned in paragraph (1)(e).