Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 (101 of 2006)
Schedule 2 Consequential amendments relating to Schedule 1 repeals etc.
Part 1 Amendments: general
Income Tax Assessment Act 1936
241 Subsection 73B(4)
Repeal the subsection, substitute:
(4) Subject to subsection (5), if, during a year of income:
(a) an eligible company commences to use a unit of plant exclusively for the purpose of the carrying on by or on behalf of the company of research and development activities; and
(b) the eligible company has incurred an amount of plant expenditure in respect of the unit;
that amount is, in relation to the unit, taken to be an amount of qualifying plant expenditure in relation to the company in relation to the year of income and each of the 2 succeeding years of income.