Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p6
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 6/11)
Character Range: 5239060–5241625

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 III of the Industry Research and Development Act 1986 relating to an R&D entity; or
 (ii) a decision covered by paragraph (b);
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 key decision at any time for the purposes of giving effect to that decision.
 (4) For the purposes of subsection (3), paragraph (3)(b) applies as if a reference to a decision under the Administrative Review Tribunal Act 2024 that varies or sets aside a decision covered by paragraph (3)(a) included a reference to a decision of that kind made under the Administrative Appeals Tribunal Act 1975.

355‑715  Implications for other deductions and tax offsets
 (1) If an *R&D entity is entitled under section 355‑100 to a *tax offset for an income year for expenditure it can deduct under section 355‑205, 355‑480 or 355‑580, that expenditure:
 (a) cannot be taken into account by any entity in working out a deduction under any other Division of this Act for any income year; and
 (b) cannot be taken into account by any entity in working out a tax offset under any other Division of this Act for any income year.
Note: Section 355‑205 is about R&D expenditure, section 355‑480 is about earlier year associate R&D expenditure, and section 355‑580 is about CRC contributions.
 (2) If an *R&D entity is entitled under section 355‑100 to a *tax offset for an income year for a deduction under section 355‑305 or 355‑520 of an amount equal to the decline in value of an asset, that decline in value:
 (a) cannot be taken into account by any entity in working out a deduction under any other Division of this Act (other than section 40‑292 or 40‑293) for any income year; and
 (b) cannot be taken into account by any entity in working out a tax offset under any other Division of this Act for any income year;
to the extent that the decline in value is attributable to the use of the asset for the purpose of conducting one or more of the *R&D activities to which the deduction relates.
Note 1: A deduction may be available under section 40‑25 to the extent that the asset's decline in value is attributable to another purpose. If so, that deduction under section 40‑25 will not take into account the asset's decline in value to the extent that it is attributable to the