Income Tax Assessment Act 1997
If an *R & D partnership incurs expenditure on one or more R & D activities during an income year, this Division applies in relation to each *R & D entity that is a partner of the R & D partnership at some time during the income year as if:
(a) the partner incurred the partner's proportion of that expenditure when the R & D partnership incurred that expenditure; and
(b) neither the R & D partnership, nor any other partner of the R & D partnership, incurred expenditure during the income year on the R & D activities; and
(c) such other changes were made to this Division as are appropriate having regard to that partner's proportion of amounts attributable to the R & D partnership.
This section and section 355-515 may result in: