Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p7
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 7/7)
Character Range: 5181340–5182470

for the asset for:
 (i) an earlier income year under Subdivision 328‑D (capital allowances for small business entities); or
 (ii) an earlier income year under Division 40 (as that Division applies apart from this Division), in a case where section 40‑440 (low‑value pools) applied;
the R&D entity can deduct the amount referred to in paragraph (c) for the present year.
 (2) This section has effect subject to subsection 355‑580(4) (CRC contributions).

355‑310  Notional application of Division 40
 (1) In addition to its application apart from this section, Division 40 also applies with the changes set out in this section for the purposes of:
 (a) paragraph 355‑225(1)(b) (excluded expenditure); and
 (b) paragraph 355‑305(1)(c); and
 (c) section 355‑315 (balancing adjustments).
 (2) Firstly, substitute the following for references to a *taxable purpose in Subdivisions 40‑A to 40‑D (other than for the purposes of sections 40‑100, 40‑105 and 40‑110):

Replacing references to a taxable purpose
Item                                       If this application of Division 40 is for the purposes of:  Substitute a reference to: