Tax Laws Amendment (Tax Incentives for Innovation) Act 2016 (54 of 2016)
Schedule 1 Tax incentives for early stage investors
Part 2 Other amendments
Income Tax Assessment Act 1936
10 After paragraph 177F(1)(d)
Insert:
(da) in the case of a tax benefit that is referable to an innovation tax offset, or a part of an innovation tax offset, being allowable to the taxpayer - determine that the whole or a part of the innovation tax offset, or the part of the innovation tax offset, as the case may be, is not to be allowable to the taxpayer; or
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