Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:2_26a
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 2 cl 26A
Character Range: 76879–77879

26A  Simplified outline
  The following is a simplified outline of this Part:

         • The Board may, on application by an R&D entity, register the R&D entity for R&D activities. This registration is needed before the R&D entity can be entitled to a tax offset (an R&D tax offset) under Division 355 of the Income Tax Assessment Act 1997 for the R&D activities.
         • The R&D entity can seek an advance finding to get early notice about whether an activity is considered to be an R&D activity.
         • The R&D entity can seek a finding that an activity cannot be conducted in Australia. The finding is needed before expenditure incurred on the activity can count towards an R&D tax offset.
         • The Board may register entities as research service providers capable of providing research services to R&D entities.
         • Internal and external review can be sought for certain decisions under this Part.

Division 2—Registering for the R&D tax offset

Subdivision A—Introduction