Tax Laws Amendment (Research and Development) Act 2011 (93 of 2011)
Schedule 3 Other amendments relating to new R&D incentive
Part 5 Forgiveness of commercial debts
Division 2 Amending the old law
Income Tax Assessment Act 1936
43 Subsection 245-140(1) in Schedule 2C (table item 8 of the definition of table of deductible expenditure )
Repeal the item, substitute:
|
8 |
Expenditure deductible under Division 355 (R&D) of the Income Tax Assessment Act 1997 |
Division 355 of that Act |
Note: This item will not commence if Schedule 2 to the Tax Laws Amendment (Transfer of Provisions) Act 2010 has already commenced.