Document ID: chunk:federal_register_of_legislation:C2011C00519:clause:11_3
Version: federal_register_of_legislation:C2011C00519
Segment Type: clause
Provision Reference: sch 11 cl 3
Character Range: 324760–325593

3                                                  The year of income 3 years before the initial year  70% of the amount described in paragraph (1)(a)

(4) To avoid doubt, this item has effect for the purposes of the application of sections 73P to 73Z (inclusive) of the Income Tax Assessment Act 1936 as amended by this Schedule not only for the initial year but also for the next 2 years of income.

Note: This item will be relevant only to years of income assessments for which can be affected by the amount of reduced notional expenditure on foreign owned R&D for years of income before the initial year.

(5) A term that is used in this item and has a meaning given by section 73B, or any of sections 73P to 73Z (inclusive), of the Income Tax Assessment Act 1936 as amended by this Schedule has the same meaning in this item.