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

Schedule 3   Other amendments relating to new R&D incentive

Part 2   Prepayments of expenditure

Income Tax Assessment Act 1936

11   Paragraph 82KZMA(1)(a)

Repeal the paragraph, substitute:

(a) apart from that section, the taxpayer could deduct the expenditure for the expenditure year under:

(i) section 8-1; or

(ii) section 355-205 (R&D expenditure) or 355-480 (earlier year associate R&D expenditure);

of the Income Tax Assessment Act 1997; and