Income Tax Assessment Act 1997



Division 355 - Research and Development  

Guide to Division 355  

SECTION 355-1   What this Division is about  

An R & D entity may be entitled to a tax offset for R & D activities. The tax offset may be a refundable tax offset if the R & D entity ' s aggregated turnover is less than $20 million.

To be entitled to the tax offset, the R & D entity needs one or more notional deductions under this Division.

There are 2 main kinds of notional deductions. One is for expenditure on R & D activities. The other is for the decline in value of tangible depreciating assets used for R & D activities.


All of these notional deductions require the R & D entity to be registered for the R & D activities under Part III of the Industry Research and Development Act 1986 .


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