Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:2_28
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 2 cl 28
Character Range: 94555–95661

28  Simplified outline
  The following is a simplified outline of this Division:

         • An R&D entity can seek a finding (an advance finding) about whether an activity is an R&D activity.
         • An advance finding binds the Commissioner for the purpose of working out tax offsets (R&D tax offsets) under Division 355 of the Income Tax Assessment Act 1997.
         • An R&D entity can seek a finding that an activity cannot be conducted in Australia.
         • An R&D tax offset will only be available for expenditure incurred on an activity conducted outside Australia if a finding that the activity cannot be conducted in Australia has come into force.
         • The Board may also make a finding about whether particular technology is core technology for R&D activities.
         • An effect of a finding that the technology is core technology for the R&D activities is that an R&D tax offset will not be available for expenditure incurred in acquiring, or in acquiring the right to use, the technology for the R&D activities.

Subdivision B—Advance findings about the nature of activities