Income Tax Assessment Act 1936

Div 3 heading inserted by No 172 of 1978.

S 73Z repealed by No 93 of 2011, s 3 and Sch 3 item 44, effective 8 September 2011. For application, savings and transitional provisions see note under s 82KZLB . S 73Z formerly read:

SECTION 73Z ANTI-AVOIDANCE  
73Z(1)
This section applies to a company if:

(a) the company requests an amendment to an assessment for a year of income to reduce the amount of its research and development expenditure for a year of income; and

(b) the Commissioner is of the opinion that the purpose of the proposed amendment is to increase the company's entitlement to a deduction under section 73QA or 73QB for any year of income.

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History

S 73Z(1) amended by No 164 of 2007 , s 3 and Sch 11 item 43, by substituting " 73QA or 73QB " for " 73Y " , effective 25 September 2007. For application provision, see note under s 73B(1AAA) .

73Z(2)
The amount of that reduction is ignored in working out the company's incremental expenditure for any year of income or the notional expenditure on foreign owned R & D by the eligible company in its group membership period for any year of income (see step 4 of the method statement in subsection 73B(1) ).

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History

S 73Z(2) amended by No 164 of 2007 , s 3 and Sch 11 item 44, by inserting " or the notional expenditure on foreign owned R & D by the eligible company in its group membership period for any year of income (see step 4 of the method statement in subsection 73B(1)) " at the end, effective 25 September 2007. For application provision, see note under s 73B(1AAA) . For transitional provisions regarding reduced notional expenditure on foreign owned R & D, see note under s 73P(1) .

S 73Z inserted by No 170 of 2001.

Archived:

S 74 to 78AB repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 86, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive . A remade version of sections 74A and 74B, which are repealed by the above item, is included in the Income Tax Assessment Act 1997 s 25-65 .