S 73QA and 73QB substituted for s 73Q by
No 164 of 2007
, s 3 and Sch 11 item 34, effective 25 September 2007. For application provision, see note under s
73B(1AAA)
. For transitional provisions regarding reduced notional expenditure on foreign owned R
&
D, see note under s
73P(1)
. S 73Q formerly read:
SECTION 73Q ELIGIBILITY TO CLAIM ADDITIONAL DEDUCTION
73Q(1)
An eligible company is eligible to claim an additional deduction under section
73Y
for a year of income (the
deduction year
) if the company:
(a)
can deduct an amount for incremental expenditure incurred during its group membership period under subsection
73B(13) or (14)
for the deduction year; and
(b)
has deducted or can deduct an amount for incremental expenditure incurred during its group membership period under that subsection for each of the preceding 3 years of income.
History
S 73Q(1) amended by
No 78 of 2007
, s 3 and Sch 3 item 12, by inserting
"
incurred during its group membership period
"
after
"
incremental expenditure
"
in para (a) and (b), applicable to assessments for the year of income following 21 June 2007 and later years.
73Q(2)
For the purposes of paragraph (1)(b), the eligible company is treated as if it had deducted or can deduct an amount for incremental expenditure under that subsection for each of the preceding 3 years of income if any group member of the eligible company has deducted or can deduct an amount for expenditure of that kind incurred during its group membership period under that subsection for each of those years.
73Q(3)
For the purposes of paragraph (1)(b), subsection (2) of this section and subsection
73R(1)
, the eligible company or any of its group members is treated as if it had deducted or can deduct an amount for incremental expenditure incurred during its group membership period under subsection
73B(13) or (14)
for a year of income if the company received a start grant or a commercial ready grant in respect of that year of income.
History
S 73Q(3) amended by
No 78 of 2007
, s 3 and Sch 3 items 13 and 15, by inserting
"
incurred during its group membership period
"
after
"
incremental expenditure
"
and inserting
"
or a commercial ready grant
"
after
"
start grant
"
.
No 78 of 2007
, s 3 and Sch 3 items 14 and 16 contain the following application provisions:
Application
14
The amendment made by item 13 applies to assessments for the year of income following 21 June 2007 and later years.
Application
16
The amendment made by item 15 applies to payments received on or after 6 May 2004.
S 73Q inserted by No 170 of 2001.
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