Income Tax Rates Amendment (Research and Development) Act 2011 (92 of 2011)

Schedule 1   Amendments

Income Tax Rates Act 1986

2   After section 12A

Insert:

12B Rate of extra income tax for recoupments for R&D activities

The rate of extra income tax payable by a taxpayer under Subdivision 355-G (about government R&D recoupments) of the Income Tax Assessment Act 1997 for a year of income is 10%.