Taxation Laws Amendment (Research and Development) Act 2001 (170 of 2001)

Schedule 3   Refundable tax offset

Income Tax Assessment Act 1936

9   After subsection 632(2)

Insert:

(2A) The deduction is not allowable if a deduction in respect of the expenditure would have been allowed or allowable under section 73B, 73BA, 73BH or 73Y if a company had not chosen a tax offset under section 73I.