Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)
Schedule 11 Research and development
Part 1 Amendment of the Income Tax Assessment Act 1936
31 Subsection 73P(2) (definition of RA-1 )
Repeal the definition, substitute:
RA-1 (short for Running Average for the Y-1 year of income) means half the sum of the R&D spend of the eligible company and its group members for the Y-2 and Y-3 years of income.
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