Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:3_26
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 3 cl 26
Character Range: 153229–154336

26  Section 43‑35
Repeal the section, substitute:

43‑35  Requirement for registration under the Industry Research and Development Act
  You may deduct an amount under this Division on the basis of using capital works for the purpose of conducting *R&D activities only if:
 (a) you are registered under section 27A (registering R&D activities) of the Industry Research and Development Act 1986 for the R&D activities for an income year; or
 (b) if you are an *R&D partnership—an *R&D entity, who was a partner of the R&D partnership at some time while the R&D activities were conducted, is registered under that section for the R&D activities for an income year.
Note 1: R&D activities must be conducted in connection with a business carried on for the purpose of producing assessable income, see section 43‑195.
Note 2: You may still deduct an amount under this Division if you were registered for the R&D activities under former section 39J (Registration of eligible companies) of the Industry Research and Development Act 1986 (see section 355‑200 of the Income Tax (Transitional Provisions) Act 1997).