Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p21
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 21/51)
Character Range: 63750–66540

ending on 30 June
1993 or an earlier year of income:" from the definition of "deduction
acceleration factor" in subsection (1);
  (b) by re-numbering and re-aligning subparagraphs (a)(i) and (ii) of the
definition of "deduction acceleration factor" in subsection (1) so that they
become paragraphs (a) and (b) respectively of that definition;
  (c) by omitting "or" from the end of paragraph (a) of the definition of
"deduction acceleration factor" in subsection (1);
  (d) by omitting paragraph (b) of the definition of "deduction acceleration
factor" in subsection (1);
  (e) by omitting from subsection (13) all the words after "multiplied" and
substituting "by 1.5 is an allowable deduction to the company for the year of
income.";
  (f) by omitting subsection (15B).
(Amendments to remove the $10 million limit applying to pilot plant)
  (2) Section 73B of the Principal Act is amended by omitting subsection (6)
and substituting the following subsection:
  "(6) If:
  (a) the cost of a unit of pilot plant to an eligible company exceeds $10
million; and
  (b) any of the following applies:
    (i) the unit was acquired by the eligible company under a contract
entered into before 19 August 1992;
    (ii) the construction of the unit commenced before 19 August 1992;
    (iii) a contract for the construction of the unit was entered into
before 19 August 1992;
the cost of the unit of plant is taken, for the purposes of this section, to
be $10 million.".
(Amendments consequential upon amendments of the Industry Research and
Development Act 1986 made by this Act)
  (3) Section 73B of the Principal Act is amended:
  (a) by omitting subsection (10) and substituting the following subsection:
  "(10) A deduction is not allowable under this section to an eligible company
for a year of income in respect of expenditure in relation to research and
development activities unless:
  (a) the company is registered, in relation to the year of income, under
section 39J of the Industry Research and Development Act 1986; or
  (b) the company is registered, in relation to the year of income and in
relation to a project comprising or including those activities, under section
39P of that Act.";
  (b) by inserting in subsection (33) "or 39MA" after "39M".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 29
Recouped expenditure on research and development activities

  29. Section 73C of the Principal Act is amended by omitting from subsection
(8) all the words after "that subsection" and substituting "'multiplied by
1.5'".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 30

  30. After section 73CA of the Principal Act the following section is
inserted:
Expenditure incurred to government bodies - guaranteed returns
(Interpretation - this section