Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_10:p2
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 10 (pt 2/4)
Character Range: 635263–638056

the roll‑over event.

 (4) Instead, the balancing adjustment is affected in this way:

 (a) the total of each amount (if any) that section 373‑50 has included in the transferor's assessable income for an income year (because of a *partial realisation of the item); or

 (b) if there have been 2 or more prior applications of Common rule 1—the total of each amount (if any) that section 373‑50 has included in the assessable income of any of the transferors for an income year;

is taken to have been included by that section in the assessable income of the transferee for that income year.

Note: If you have owned the item since before the 1998‑99 income year: see subsection 373‑10(4) of the Income Tax (Transitional Provisions) Act 1997.

 (5) The obligation in subsection 41‑50(4) applies to the transferee as if the period for keeping the notice referred to in subsection 41‑50(2) were until the end of 5 years after the next *balancing adjustment event occurs for the item.

 (6) The obligation in subsection 41‑55(5) applies to the transferee as if the period for keeping the election referred to in subsection 41‑55(2) or a copy of it were until the end of 5 years after the next *balancing adjustment event occurs for the item.

Subdivision 373‑F—Adjustments affecting your deductions under this Division

Table of sections

Adjusting the amount you can deduct

373‑90 Benefits from rights exercised outside Australia

Increasing your unrecouped expenditure on the item

373‑95 Expenditure incurred in obtaining the surrender of a licence

Adjusting your expenditure on the item

373‑100 If the item is acquired in a non‑arm's length transaction
373‑105 Some cases where the item is a percentage interest of another item, or is a licence

Adjusting the amount you can deduct

373‑90  Benefits from rights exercised outside Australia

  The amounts you can deduct under Subdivision 373‑B or 373‑D for *expenditure on an item of *intellectual property are reduced if:

 (a) you have a right relating to the invention, design, work or other subject matter to which the item relates; and

 (b) you can exercise the right outside Australia; and

 (c) you obtain a benefit from that right at any time.

They are reduced by amounts that are reasonable having regard to the benefit.

Increasing your unrecouped expenditure on the item

373‑95  Expenditure incurred in obtaining the surrender of a licence

 (1) If:

 (a) you grant a licence (for consideration) in relation to an item of *intellectual property; and

 (b) the licence is later surrendered to you;

your *unrecouped expenditure on the item is increased, at the time of the surrender, by the amount of any capital expenditure you incurred in obtaining the surrender.

 (2) However, the increase is less