Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:4_15:p2
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 4 cl 15 (pt 2/2)
Character Range: 205967–207128

could deduct for the event year an amount under subsection 40‑285(2) of that Act for the asset and the balancing adjustment event; or
 (ii) an amount would be included in the R&D entity's assessable income for the event year under subsection 40‑285(1) of that Act for the asset and the balancing adjustment event.
Note 1: This section applies even if the R&D entity is entitled under section 355‑100 of the new Act to tax offsets for one or more income years for deductions (the new law deductions) under section 355‑305 of that Act for the asset.
Note 2: Section 40‑292 of this Act may apply if paragraph (c), but not paragraph (b), of this subsection is satisfied.

Changed application of Division 40
 (2) For the purposes of paragraph (1)(e), assume that Division 40 of the new Act applied with the changes described in section 355‑310 of that Act, but with these changes to that section:

Changes to be made to section 355‑310 of the new Act
Item                                                  For a reference in section 355‑310 to...                                                                                             substitute a reference to...