Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:1_4:p7
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 7/7)
Character Range: 73940–75129

Division of this Act (other than section 40‑292 or 40‑293) for any income year; and
 (b) cannot be taken into account by any entity in working out a tax offset under any other Division of this Act for any income year;
to the extent that the decline in value is attributable to the use of the asset for the purpose of conducting one or more of the *R&D activities to which the deduction relates.
Note 1: A deduction may be available under section 40‑25 to the extent that the asset's decline in value is attributable to another purpose. If so, that deduction under section 40‑25 will not take into account the asset's decline in value to the extent that it is attributable to the R&D activities (see also subsection 40‑25(2)).
Note 2: Section 355‑305 is about the decline in value of R&D assets, section 355‑315 is about balancing adjustments for R&D assets, section 355‑520 is about the decline in value of R&D partnership assets, and section 355‑525 is about balancing adjustments for R&D partnership assets.
Note 3: Sections 40‑292 and 40‑293 deal with balancing adjustments when deductions have been available for the asset's decline in value both under this Division and section 40‑25.