Document ID: chunk:federal_register_of_legislation:C2009A00031:clause:1_4:p2
Version: federal_register_of_legislation:C2009A00031
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 2/5)
Character Range: 4059–6736

the Income Tax Assessment Act 1936 (deductions regarding assets used in research and development activities).

Counting additional recognised new investment amounts for the purposes of meeting the threshold
 (4) For the purposes of paragraph (1)(d), treat each of the following as a *recognised new investment amount for the income year in relation to the asset (the relevant asset):
 (a) a recognised new investment amount for a previous income year in relation to the relevant asset;
 (b) a recognised new investment amount for the income year or a previous income year in relation to another asset, if:
 (i) the other asset is part of a set of assets including the relevant asset; or
 (ii) the other asset is identical, or substantially identical, to the relevant asset;
 (c) a recognised new investment amount for the income year or a previous income year in relation to an asset *held by another entity, if:
 (i) subsection 40‑35(1) (jointly held depreciating assets) applies in relation to the relevant asset because it is your interest in an asset (the underlying asset); and
 (ii) the asset held by the other entity is the other entity's interest in the underlying asset.

41‑15  Amount of deduction
 (1) The amount that you can deduct is:
 (a) if the *new investment threshold for the income year in relation to the asset is $1000 (small business entities)—50% of the total of the *recognised new investment amounts for the income year in relation to the asset; or
 (b) if paragraph (a) does not apply but subsection (3), (4) or (5) applies—10% of that total; or
 (c) otherwise—the sum of:
 (i) 30% of the total of the recognised new investment amounts for the income year in relation to the asset that meet the condition in subsection (2); and
 (ii) 10% of the total of the other recognised new investment amounts for the income year in relation to the asset.
 (2) A *recognised new investment amount meets the condition in this subsection if:
 (a) the *investment commitment time for the amount occurred before 1 July 2009; and
 (b) the *first use time for the amount occurred before 1 July 2010.
 (3) This subsection applies if the income year is the 2011‑12 income year.
 (4) This subsection applies if:
 (a) you can deduct the amount because of paragraph 41‑10(4)(a); and
 (b) the *new investment threshold for the income year in relation to the asset exceeds the total of the *recognised new investment amounts for the income year in relation to the asset that meet the condition in subsection (2).
 (5) This subsection applies if:
 (a) you can deduct the amount because of paragraph 41‑10(4)(b) or (c); and
 (b) the *new investment threshold for the income year