Income Tax Assessment Act 1997



Division 355 - Research and Development  

Subdivision 355-C - Entitlement to tax offset  

SECTION 355-110   355-110   Notional deductions include prepaid expenditure  

For the purposes of this Division, if:

(a) apart from Subdivision H (prepaid expenditure) of Division 3 of Part III of the Income Tax Assessment Act 1936 , an *R & D entity can deduct an amount under section 355-205 or 355-480 for an income year (the present year ) or an earlier income year; and

(b) that Subdivision applies to the calculation of that amount; and

(c) the entity can deduct an amount, as a result of that application of that Subdivision, for the present year;

the entity is taken to be able to deduct under section 355-205 or 355-480 (as appropriate) the amount referred to in paragraph (c) for the present year.


Section 355-205 is about deductions for R & D expenditure. Section 355-480 is about deductions for earlier year associate R & D expenditure.


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