Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 4   AMENDMENTS RELATING TO RESEARCH AND DEVELOPMENT ACTIVITIES

Part 2   INCOME TAX ASSESSMENT ACT 1936

12   Subsection 73B(1)

Insert:

"'Australian research and development activities' means research and development activities that are carried on in Australia or in an external Territory;

'certified expenditure' means expenditure that was incurred by an eligible company on overseas research and development activities in respect of which the Board gave a provisional certificate under section 39ED of the Industry Research and Development Act 1986 before the expenditure was incurred;

'overseas research and development activities' means research and development activities that are carried on outside Australia and the external Territories;".