Tax Laws Amendment (Research and Development) Act 2011 (93 of 2011)

Schedule 3 Other amendments relating to new R&D incentive

Repeal the subsection, substitute:

(2) Despite item 2 of the table in subsection (1), no debit arises on that part of the refund that is attributable to any of the following:

(a) a payment of income tax in relation to either or both of the following:

(i) an *FHSA component;

(ii) an *RSA component;

(b) a *tax offset that is subject to the refundable tax offset rules because of section 67-30 (about R&D).