New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)

Schedule 23   Consolidation: research and development

Income Tax Assessment Act 1997

10   Paragraph 40-292(1)(b)

Repeal the paragraph, substitute:

(b) for any income year in which you held the asset, you also deducted an amount for it under section 73BA or 73BH of the Income Tax Assessment Act 1936, or could have done so if:

(i) you had not chosen a tax offset under section 73I of that Act; or

(ii) section 73BAF of that Act had not been enacted.