INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 355 - Research and Development  

Subdivision 355-W - Other matters  

SECTION 355-720   355-720   Certain related amounts may be reduced if notional deductions exceeded $100 million  


Section 355-720 of the Income Tax Assessment Act 1997 also applies as if the table in subsection (1) of that section included the following item:


1A any amount to include in the *R & D entity ' s assessable income for the present year because of a *balancing adjustment event happening for an asset it *held (a) paragraph 40-292(1)(b) of the Income Tax (Transitional Provisions) Act 1997 ; or
(b) paragraph 355-320(1)(c) of that Act
its adjusted section 40-285 amount (see subsection 40-292(3) or 355-320(4) of that Act) for the present year, the asset and the *balancing adjustment event




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