Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)

Schedule 11   Research and development

Part 2   Amendment of the Industry Research and Development Act 1986

51   Section 39D

Repeal the section, substitute:

39D Research and development activities for the benefit of the Australian economy

(1) Australian research and development activities are taken to be for the benefit of the Australian economy.

(2) Overseas research and development activities are taken to be for the benefit of the Australian economy if the Board has given a provisional certificate in respect of the activities.