Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 5/11)
Character Range: 5236646–5239287

the finding;
the finding binds the Commissioner for the purposes of assessments of the R&D entity for the income year and the next 2 income years.

Advance findings about completed activities
 (3) However, if:
 (a) an activity is completed during an income year; and
 (b) an *R&D entity applies in the income year for a finding under section 28A of the Industry Research and Development Act 1986 about the activity; and
 (c) Industry Innovation and Science Australia makes the finding and gives the Commissioner a certificate under that Act setting out the finding;
the finding binds the Commissioner for the purposes of assessments of the R&D entity for the income year.

355‑710  Amendment of assessments

Dealing with findings of Industry Innovation and Science Australia
 (1) If:
 (a) a certificate given to the Commissioner under the Industry Research and Development Act 1986 sets out:
 (i) a finding under section 27B of that Act about an *R&D entity's application for registration under section 27A of that Act for an income year; or
 (ii) a finding under section 27J of that Act about an R&D entity's registration under section 27A of that Act for an income year; or
 (iii) a finding under section 28A or 28C of that Act made on application by an R&D entity during an income year; or
 (iv) a finding under section 28E of that Act about an R&D entity and one or more R&D activities conducted or to be conducted during one or more income years; and
 (b) the finding was made within 4 years after the end of the income year or the last of the income years (as appropriate);
despite section 170 of the Income Tax Assessment Act 1936, the Commissioner may amend the R&D entity's assessment for an income year affected by the finding at any time for the purposes of giving effect to the finding.
 (2) However, the Commissioner may only do so within 2 years after the Commissioner is given the certificate if giving effect to the finding would increase the R&D entity's liability.

Dealing with key decisions of Industry Innovation and Science Australia and others
 (3) If:
 (a) an internal review decision (the key decision) under subsection 30D(2) of the Industry Research and Development Act 1986 relates to an *R&D entity; or
 (b) a decision (also the key decision) under the Administrative Review Tribunal Act 2024:
 (i) varies a decision covered by paragraph (a); or
 (ii) sets aside a decision covered by paragraph (a), whether or not that key decision also includes a decision made in substitution for the decision covered by paragraph (a); or
 (c) a decision (also the key decision) of a court is about:
 (i) a decision under Part