Taxation Laws Amendment Act (No. 3) 1997 (147 of 1997)

Schedule 11   Research and development

Income Tax Assessment Act 1936

6   Subsection 73B(12B) (definition of undeducted past expenditure )

Repeal the definition, substitute:

undeducted expenditure means so much of the core technology expenditure incurred by the company during the current year or previous years of income in relation to the relevant core technology under contracts entered into at or after the time referred to in subsection (12) as has not been allowed as a deduction from the company's assessable income of any of those previous years of income.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).