Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Act 2026 (58 of 2026)

Schedule 4   Exclusion of tobacco and gambling related activities from the Research and Development Tax Incentive

Part 2   Application provisions

6   Effect of findings by Industry Innovation and Science Australia

(1) This item applies in relation to a finding that:

(a) was made by Industry Innovation and Science Australia under the Industry Research and Development Act 1986 before the commencement of this item in relation to an R&D entity; and

(b) relates to an income year (a relevant income year ) starting on or after 1 July 2025.

(2) Despite section 355-705 of the Income Tax Assessment Act 1997, the finding does not bind the Commissioner to the extent that the finding would require the Commissioner to make an assessment of the R&D entity for a relevant income year on the basis that an activity is an R&D activity if, on the commencement of this item, the activity is not an R&D activity for the purposes of the Income Tax Assessment Act 1997 because of the amendments made by this Schedule.