Industry Research and Development Act 1986

PART III - FUNCTIONS RELATING TO THE R & D TAX OFFSET  

Division 2 - Registering for the R & D tax offset  

Subdivision D - Examining registrations  

SECTION 27M   VARYING REGISTRATIONS ON APPLICATION  

27M(1)  
The Board may, by notice in writing given to an R & D entity, vary the entity's registration under section 27A for an income year if:


(a) the entity applies for the variation; and


(b) the variation is consistent with the Board's findings (if any) in force under this Part in relation to the R & D entity; and


(c) making the variation is justified in accordance with the decision-making principles.

Note 1:

A decision not to vary is reviewable (see Division 5 ).

Note 2:

Section 32A deals with the decision-making principles.

27M(2)  
An application for a variation must be:


(a) in the approved form; and


(b) accompanied by the fee (if any) specified in regulations made under section 48A for the purposes of this section.

Note:

Section 32 deals with approved forms.

27M(3)  
Section 27E applies to an application under this section in a way corresponding to the way that section applies to an application under section 27D .

Note:

This means the Board may request further information about the application for variation.

27M(4)  
For the purposes of this Act and the Income Tax Assessment Act 1997 , the effect of a variation is that the entity's registration under section 27A for the income year is taken always to have existed as varied.


 

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