Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2
Character Range: 5164840–5165454

2                    exceeds 2% of the *R&D entity's total expenses for the income year worked out under section 355‑115                          16.5%

If notional deductions are less than $20,000
 (2) However, if the total amount mentioned in subsection (1) is less than $20,000, the *R&D entity is instead entitled to a *tax offset for the income year, worked out in accordance with subsections (1) and (1A), as if that amount were instead the total of the following kinds of expenditure (if any):

Expenditure not subject to $20,000 threshold
Item                                          Kind of expenditure