Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:3a_4
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 3A cl 4
Character Range: 175767–176601

4  Second objective—tax neutral consequences
(1) The second objective is that, as far as practicable, there be tax‑neutral consequences for an R&D entity receiving quarterly credits.
Note 1: This objective is for the R&D entity to be in the same position, for income tax purposes, whether:
(a) the R&D entity receives quarterly credits for an income year; or
(b) the R&D entity does not receive those quarterly credits, and becomes entitled, after the end of the income year, to the refundable R&D tax offset for the income year.
Note 2: Achieving this objective could include providing for a reconciliation and other integrity measures (for example, see paragraphs 5(1)(l) and (p) and subitem 5(4)).
(2) For the purposes of subitem (1), disregard consequences relating to time.

Part 3—Modified Acts may provide for certain matters