Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p11
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 11/11)
Character Range: 5251132–5253500

official list of any stock exchange in Australia or a foreign country; and
 (e) at the test time, the company has at least 100 points under section 360‑45, or:
 (i) the company is genuinely focussed on developing for commercialisation one or more new, or significantly improved, products, processes, services or marketing or organisational methods; and
 (ii) the business relating to those products, processes, services or methods has a high growth potential; and
 (iii) the company can demonstrate that it has the potential to be able to successfully scale that business; and
 (iv) the company can demonstrate that it has the potential to be able to address a broader than local market, including global markets, through that business; and
 (v) the company can demonstrate that it has the potential to be able to have competitive advantages for that business; and
 (f) at the test time, the company is not a foreign company (within the meaning of the Corporations Act 2001).
Note: For the purposes of paragraph (e), one way a company can demonstrate something is by engaging the services of another entity.
 (2) For the purposes of paragraph (1)(c), disregard any of the following:
 (a) an Accelerating Commercialisation Grant under the program administered by the Commonwealth known as the Entrepreneurs' Programme;
 (b) an amount required to be included in the company's assessable income under subsection 355‑450(1).
 (3) Subparagraphs (1)(e)(i) to (v) cannot be satisfied for:
 (a) a product, process, service or method; or
 (b) an improvement to a product, process, service or method;
that is of a kind prescribed by regulations made for the purposes of this subsection.
 (4) Subsection (1) does not apply to a company if, before the test time, the company engaged in an activity of a kind prescribed by regulations made for the purposes of this subsection.

360‑45  100 point innovation test
 (1) At a particular time (the test time) in an income year (the current year), a company has the points mentioned in an item of the following table if that item applies to the company at that time.

Innovation points potentially available at that time in the current year
                                                                          Column 1  Column 2
Item                                                                      Points    Innovation criteria