(relevant to Australian owned R&D only)
Plant balancing adjustments (profits)
If the consideration receivable is greater than the written-down value of the unit of plant (paragraph 73B(23)(f) of the ITAA 1936, include at item 8 the amount by which the consideration exceeds the written-down value, up to the limit of the difference between the cost of the plant and its written-down value.
At E and F enter the amount of any assessable balancing adjustment (assessable income).
The amount at E must equal the amount at F otherwise, a warning message 'Your claim does not balance' will display in the Excel spreadsheet.
End of attentionBalancing adjustments sale of pilot plant (profits)
If the consideration receivable is greater than the written-down value of the unit of post 23 July 1996 pilot plant (paragraph 73B(24B)(f) of the ITAA 1936), include the amount by which the consideration exceeds the written-down value, up to a limit of the difference between the cost of the plant and its written-down value. include this amount in the calculation of the net base amount at item 8.
At E and F enter the amount of any assessable balancing adjustment (assessable income).
The amount at E must equal the amount at F otherwise, a warning message 'Your claim does not balance' will display in the Excel spreadsheet.
End of attentionMore information
For more information, see:
- subsections 73B(1), 73B(4B), 73B(15AA), 73B(23) and 73B(24B) of the ITAA 1936
- Guide to the R&D tax concession.