Industry Research and Development Act 1986

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

Division 3 - Other findings  

Subdivision B - Advance findings about the nature of activities  

SECTION 28A   ADVANCE FINDINGS ABOUT THE NATURE OF ACTIVITIES  

28A(1)  
The Board must, on application by an R & D entity for a finding under this subsection about an activity, do one or more of the following:


(a) find that all or part of the activity is a core R & D activity;


(b) find that all or part of the activity is a supporting R & D activity in relation to one or more specified core R & D activities for which the entity has been or could be registered under section 27A for an income year;


(c) make a finding to the effect that all or part of the activity is neither:


(i) a core R & D activity; nor

(ii) a supporting R & D activity of a kind covered by paragraph (b);


(d) if justified in accordance with the decision-making principles - refuse to make a finding about all or part of the activity.

Note 1:

A finding, or a refusal to make a finding, is reviewable (see Division 5 ).

Note 2:

For requirements of applications, see section 28G .

Note 3:

A finding binds the Commissioner for the purposes of income tax assessments for certain income years (see subsections 55-705(2) and (3) of the Income Tax Assessment Act 1997 ).

Note 4:

Section 32A deals with the decision-making principles.

28A(2)  
The Board must not make a finding under subsection (1) about an activity unless the Board is satisfied that the activity:


(a) is being conducted, or has been completed, during the income year in which the application is made; or


(b) is yet to be conducted, but that it is reasonable to expect that the activity will be conducted in any or all of the following income years:


(i) the income year in which the application is made;

(ii) either of the next 2 income years.

28A(3)  
If the Board makes a finding under subsection (1) about an activity that is being conducted, or has been completed, during the income year in which the application is made, the Board may specify in the finding the times to which the finding relates.

28A(4)  
This section has effect subject to section 32B (findings cannot be inconsistent with any earlier findings).


 

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