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INCOME TAX ASSESSMENT ACT 1997 - SECT 355.445

Recoupment could relate to R&D activities

                   The condition in this section is met if:

                     (a)  the * recoupment is received, or the entitlement to receive the recoupment arises, during an income year (the trigger year ); and

                     (b)  either:

                              (i)  the recoupment is of expenditure incurred on or in relation to certain activities; or

                             (ii)  the recoupment requires expenditure (the project expenditure ) to have been incurred, or to be incurred, on certain activities.

Note:          Paragraph (b) includes expenditure incurred in purchasing a tangible depreciating asset to be used when conducting R&D activities.



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