Taxation Determination

TD 95/44A - Addendum

Income tax: can research and development expenditure incurred by a business be deductible under subsection 51(1) of the Income Tax Assessment Act 1936 ('the Act')?

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FOI status:

may be released

ADDENDUM

This Addendum amends Taxation Determination TD 95/44, in relation to the 1997-98 or a later income year, as follows:

1. At the Title

Omit 'subsection 51(1) of the Income Tax Assessment Act 1936 ('the Act')'; substitute 'section 8-1 of the Income Tax Assessment Act 1997 ('the 1997 Act')'.

2. At Paragraph 1

Omit 'subsection 51(1)'; substitute 'section 8-1'.

3. At Paragraph 2

(a)

After 'section 73B of the'; insert 'Income Tax Assessment Act 1936 (the 1936 Act)'; delete 'Act'.

(b)

Omit 'subsection 51(1)' from 3rd and 4th lines; substitute 'section 8-1 of the 1997 Act'.

(c)

After 'section 73A'; insert 'of the 1936 Act'.

(d)

After 'any other provision of'; insert 'the 1936 Act or the 1997'.

4. At Paragraph 3

Omit 'subsection 51(1)'; substitute 'section 8-1'.

5. At Paragraph 4

Omit 'subsection 51(1)'; substitute 'section 8-1'.

6. After Paragraph 7

Insert new paragraph 8:

'Section 8-1 of the Income Tax Assessment Act 1997, to which this Determination refers, expresses the same ideas as subsection 51(1) of the Income Tax Assessment Act 1936.'

7. At the Legislative References

Omit 'ITAA 51(1)'; substitute 'ITAA 1997 8-1'.

Omit 'ITAA 73A'; substitute 'ITAA 1936 73A'.

Omit 'ITAA 73B'; substitute 'ITAA 1936 73B'.

Commissioner of Taxation
18 August 1999

References

ATO references:
NO NAT 99/10494-5

Related Rulings/Determinations:

TD 95/44