Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 (92 of 2020)

Schedule 5   Enhancing the integrity of the R&D Tax Incentive

Part 1   Schemes to reduce income tax

Income Tax Assessment Act 1936

7   At the end of subsection 177C(3)

Add:

; or (i) the refundable R&D tax offset, or non-refundable R&D tax offset, would not have been allowable.