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 1997
664 Subsection 40-215(2)
Repeal the subsection, substitute:
(2) Subsection (1) does not apply to deductions for research and development plant expenditure (sections 73B and 73BA of the Income Tax Assessment Act 1936).
Note: Subsection (2) does not have the effect that deductions for the same amount of any such expenditure will be allowable under both this Division and section 73B or 73BA. Such an outcome is prevented by subsection 40-25(2) (including as applied by section 73BC for the purposes of section 73BA) and subsections 73B(20) and 73BA(7).