Taxation Laws Amendment (Research and Development) Act 2001 (170 of 2001)
Schedule 2 Plant etc.
Part 3 Effective life basis for deduction
Division 1 Amendments commencing at 12 pm on 29 January 2001
Income Tax Assessment Act 1936
4 Subsection 73B(1) (at the end of paragraph (b) of the definition of aggregate research and development amount )
Add:
, where that expenditure was incurred in respect of plant:
(i) acquired, or constructed, under a contract entered into at or before 12 pm, by legal time in the Australian Capital Territory, on 29 January 2001; or
(ii) that the company commenced to construct at or before 12 pm, by legal time in the Australian Capital Territory, on 29 January 2001.
Note: The heading to section 73B is altered by omitting " Expenditure ", and substituting " Certain expenditure ".
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