Tax Laws Amendment (Research and Development) Act 2011 (93 of 2011)

Schedule 2   Innovation Australia's role

Part 1   Main amendment

Industry Research and Development Act 1986

27J   Findings about a registration

(1) The Board may make one or more findings to the following effect about an R&D entity’s registration under section 27A for an income year (the registration year ):

(a) that all or part of a registered activity was a core R&D activity conducted during the registration year;

(b) that all or part of a registered activity was not an activity of a kind covered by paragraph (a);

(c) that all or part of a registered activity was a supporting R&D activity conducted during the registration year and in relation to:

(i) one or more specified registered core R&D activities; or

(ii) one or more specified core R&D activities for which the entity has been registered in an earlier income year; or

(iii) one or more specified core R&D activities yet to be conducted for which the entity could be registered in the registration year if those activities were conducted during the registration year; or

(iv) several specified core R&D activities, each covered by subparagraph (i), (ii) or (iii);

(d) that all or part of a registered activity was not an activity of a kind covered by paragraph (c).

Note 1: A finding is reviewable (see Division 5).

Note 2: The Board could make a finding under paragraph (b) if, for example, the Board has insufficient information to make a finding under paragraph (a). Similarly, the Board could make a finding under paragraph (d) if it has insufficient information to make a finding under paragraph (c).

(2) If the Board makes a finding under subsection (1) in relation to the R&D entity’s registration, the Board may specify in the finding the times to which the finding relates.

Example: A finding under paragraph (1)(a) could specify the times during the registration year that a registered activity was a core R&D activity.

(3) This section has effect subject to section 32B (findings cannot be inconsistent with any earlier findings).