Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p11
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 11/18)
Character Range: 5207635–5210390

355‑100 for the offset year if the total amount mentioned in subsection 355‑100(1) for that tax offset were reduced by the portion of the clawback amount that is attributable to the offset year.
deduction amount means the portion of the clawback amount that is attributable to the offset year, multiplied by the R&D entity's *corporate tax rate for the offset year.
starting offset means the amount of the *tax offset the R&D entity has received, or is entitled to receive, under section 355‑100 for the offset year.
 (2) However, if this section, or section 355‑475, has previously applied (whether in the present year or an earlier income year) in relation to another clawback amount, or catch up amount, the *R&D entity has that relates to the offset year, subsection (1) of this section applies as if:
 (a) the starting offset were the *tax offset the R&D entity would have received under section 355‑100 for the offset year if the total amount mentioned in subsection 355‑100(1) were:
 (i) decreased by the sum of the portions of any such other clawback amounts that are attributable to the offset year; and
 (ii) increased by the sum of the portions of any such other catch up amounts that are attributable to the offset year; and
 (b) the reference to the "total amount" in the definition of adjusted offset were a reference to that amount as so adjusted.

Subdivision 355‑H—Catch up deductions for balancing adjustment events for assets used for R&D activities

Guide to Subdivision 355‑H

355‑455  What this Subdivision is about

      An R&D entity can deduct an amount under this Subdivision if:
             (a) a balancing adjustment event happens for an asset held by the R&D entity (or an R&D partnership in which the R&D entity is a partner); and
             (b) tax offsets have been obtained under this Division for deductions for the asset; and
             (c) the R&D entity (or the R&D partnership) can otherwise deduct an amount for the asset and the balancing adjustment event.

Table of sections

Operative provisions
355‑460 When this Subdivision applies
355‑465 Assets only used for R&D activities
355‑466 Assets partially used for R&D activities
355‑467 R&D partnership assets only used for R&D activities
355‑468 R&D partnership assets partially used for R&D activities
355‑475 Amount that can be deducted

Operative provisions

355‑460  When this Subdivision applies
  This Subdivision applies to an *R&D entity for an income year (the present year) if:
 (a) the R&D entity has an amount (a catch up amount) under section 355‑465, 355‑466, 355‑467 or 355‑468 for an asset for the present year; and
 (b) the R&D entity has received, or is entitled to receive, a *tax offset under section 355‑100 for one or more income years