INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 68A  

68A   EXPENSES RELATING TO GRANT OF PATENTS ETC.  
Where a taxpayer incurs expenditure (whether by payment of fees or otherwise) in the year of income in obtaining, or seeking to obtain, for the purpose of producing assessable income:

(a) the grant, or the extension of the term, of a patent for an invention;

(b) the registration, or the extension of the period of registration, of a design; or

(c) the registration of a copyright,

the following provisions have effect:

(d) if the expenditure was incurred in obtaining, or seeking to obtain, the grant, extension or registration wholly for the purpose of producing assessable income - the whole of the expenditure shall be an allowable deduction;

(e) if the expenditure was incurred in obtaining, or seeking to obtain, the grant, extension or registration only partly for the purpose of producing assessable income - so much only of the expenditure as, in the opinion of the Commissioner, is reasonable in the circumstances shall be an allowable deduction.

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