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%.
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