Taxation Laws Amendment Act (No. 3) 1997 (147 of 1997)

Schedule 11   Research and development

Taxation Laws Amendment Act (No. 3) 1996

13   Item 38 of Schedule 4

Repeal the item, substitute:

38 - Application

The amendments made by this Division do not apply to core technology expenditure incurred:

(a) by a partnership under a contract entered into before 8.30 pm, by legal time in the Australian Capital Territory, on 13 December 1996; or

(b) by eligible companies jointly registered under section 39P of theIndustry Research and Development Act 1986 where the expenditure is incurred under a contract entered into at or after 8.30 pm, by legal time in the Australian Capital Territory, on 13 December 1996.