Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p3
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 3/17)
Character Range: 570144–572821

Income Tax Assessment Act 1936, an eligible company could deduct advance R and D expenditure in one or more income years commencing on or after 1 July 2011.
Note: That deduction would be under former section 73B of that Act as that former section applies because of Part 2 of Schedule 4 to the Tax Laws Amendment (Research and Development) Act 2011.

Other prepayments of R&D expenditure
 (2) This section also applies if:
 (a) apart from Subdivision H (prepaid expenditure) of Division 3 of Part III of the Income Tax Assessment Act 1936, an eligible company can deduct an amount under former section 73B, 73BA, 73BH, 73QA, 73QB or 73Y of that Act for an income year commencing before 1 July 2011; and
 (b) that Subdivision applies to the calculation of that amount; and
 (c) apart from former paragraph 73B(10)(a) of that Act, the eligible company could deduct an amount, as a result of that application of that Subdivision, for an income year commencing on or after 1 July 2011.
Note: That deduction would be under that Act as it applies because of Part 2 of Schedule 4 to the Tax Laws Amendment (Research and Development) Act 2011.

Changed registration requirement
 (3) Former paragraph 73B(10)(a) of that Act is taken to apply to those income years commencing on or after 1 July 2011 as if the reference in that former paragraph to section 39J of the Industry Research and Development Act 1986 were a reference to section 27A of that Act.

Meaning of expressions
 (4) An expression used in this section that is also used in former section 73B of the Income Tax Assessment Act 1936 has the same meaning in this section as it has in that former section.

Subdivision 355‑M—Undeducted core technology expenditure

Table of sections
355‑600 Scope
355‑605 Core technology that is a depreciating asset
355‑610 Core technology that is not a depreciating asset

355‑600  Scope
  This Subdivision applies to core technology (within the meaning of former section 73B of the Income Tax Assessment Act 1936) if:
 (a) you incurred core technology expenditure (within the meaning of that former section) in an income year commencing before 1 July 2011 in relation to the core technology under one or more contracts entered into at or after the time referred to in former subsection 73B(12) of that Act; and
 (b) that expenditure (the undeducted expenditure) cannot be deducted for the last income year commencing before 1 July 2011.

355‑605  Core technology that is a depreciating asset

This section only applies for deductions under Division 40
 (1) This section applies for the purposes of Division 40 of the Income Tax Assessment Act 1997, other than sections 40‑292 and 40‑293 of