Tax Laws Amendment (2007 Measures No. 2) Act 2007 (78 of 2007)

Schedule 3   Research and development

Income Tax Assessment Act 1936

5   Paragraph 73J(1)(b)

Repeal the paragraph, substitute:

(b) either:

(i) all or part of the amount that the company could, apart from subsection 73I(4), have deducted is contracted expenditure; or

(ii) its aggregate research and development amount for the tax offset year exceeds $20,000; and