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

Schedule 3   Research and development

Income Tax Assessment Act 1936

10   Subsection 73P(2)

Insert:

commercial ready grant means a subsidy or grant that:

(a) is paid to an eligible company under the program known as the Commercial Ready program; and

(b) includes a component for activities of the company that are research and development activities, or would be, apart from subsection 73B(2BA); and

(c) is for a year of income in relation to which the company is not registered as mentioned in subsection 73B(10).