Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:1_3
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 15161–15845

3                       any other case                                                                                                                                      40%

Note: The tax offset will be a refundable tax offset if the percentage applicable to the entity is 45% (see section 67‑30).

If notional deductions are less than $20,000
 (2) However, if the total of those amounts is less than $20,000, the *R&D entity is instead entitled to a *tax offset for the income year equal to that percentage of the total of the following kinds of expenditure (if any):

Expenditure not subject to $20,000 threshold
Item                                          Kind of expenditure