Income Tax Assessment Act 1997
The *R & D entity (the partner ) has an amount under this section if: (a) the partner is a partner in an *R & D partnership; and (b) a *balancing adjustment event happens in the present year for an asset *held by the *R & D partnership; and (c) the R & D partnership cannot deduct, for the asset for an income year, an amount under section 40-25 , as that section applies apart from:
(i) this Division; and
(d) the partner is entitled under section 355-100 to *tax offsets for one or more income years for deductions under section 355-520 for the asset; and (e) the partner is registered under section 27A of the Industry Research and Development Act 1986 for one or more *R & D activities for the present year; and (f) the partner can deduct an amount under subsection 355-525(2) for the present year for the asset and the balancing adjustment event. 355-467(2)
(ii) former section 73BC of the Income Tax Assessment Act 1936 ; and
The amount is an amount equal to the amount mentioned in paragraph (1)(f).
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