Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p22
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 22/51)
Character Range: 66290–68957

1.5'".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 30

  30. After section 73CA of the Principal Act the following section is
inserted:
Expenditure incurred to government bodies - guaranteed returns
(Interpretation - this section to be treated as part of section 73B)
  "73CB.(1) For the purposes of interpretation, this section is to be
construed as if it were part of section 73B.
(No deduction for expenditure incurred to government body if return
guaranteed)
  "(2) If:
  (a) an eligible company incurs expenditure to a government body, or an
associate of a government body, in connection with research and development
activities carried out on behalf of the company; and
  (b) the Commissioner is satisfied that, when the expenditure was incurred,
the company was not at risk in respect of the whole or a part of the
expenditure; and
  (c) at the time when the expenditure was incurred, the government body or
associate, as the case requires, was not entered on the Register of Commercial
Government Bodies kept under section 39HA of the Industry Research and
Development Act 1986;
a deduction is not allowable to the company under section 73B for any part of
that expenditure.
(When company not at risk in respect of expenditure)
  "(3) Subsection 73CA(5) applies for the purposes of this section in the same
way as it applies for the purposes of section 73CA.
(Universities, research institutions etc. deemed to be government bodies)
  "(4) For the purposes of this section:
  (a) a university or other educational institution established by a law of
the Commonwealth, a State or a Territory is taken to be an authority of the
Commonwealth, the State or the Territory, as the case requires; and
  (b) a research institution established by a law of the Commonwealth, a State
or a Territory is taken to be an authority of the Commonwealth, the State or
the  Territory, as the case requires.
(Extended meaning of "associate" - government authorities)
  "(5) For the purposes of this section, but without limiting the meaning of
the expression 'associate':
  (a) the Commonwealth is taken to be an associate of each authority of the
Commonwealth; and
  (b) an authority of the Commonwealth is taken to be an associate of each
other authority of the Commonwealth; and
  (c) a State is taken to be an associate of each authority of the State; and
  (d) an authority of a State is taken to be an associate of each other
authority of the State; and
  (e) a Territory is taken to be an associate of each authority of the
Territory; and
  (f) an authority of a Territory is taken to be an associate of each other
authority of the Territory.
(Meaning