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INCOME TAX ASSESSMENT ACT 1997 - SECT 355.515

R&D activities conducted by or for an R&D partnership

                   If one or more * R&D activities are conducted by or for an * R&D partnership during an income year, this Division applies in relation to each * R&D entity that is a partner of the R&D partnership at some time during the income year as if:

                     (a)  the R&D activities were conducted by or for the partner in a corresponding way to the way the R&D activities were conducted by or for the R&D partnership; and

                     (b)  the partner had relationships with other entities in relation to the R&D activities that corresponded to the relationships the R&D partnership had with those other entities in relation to the R&D activities; and

                     (c)  a thing done by, or in relation to, the R&D partnership in relation to the R&D activities were a thing done by, or in relation to, the partner; and

                     (d)  the R&D activities were neither:

                              (i)  conducted by or for the R&D partnership; nor

                             (ii)  conducted by or for any other partner of the R&D partnership; and

                     (e)  such other changes were made to this Division as are appropriate having regard to that partner's proportion of amounts attributable to the R&D partnership.

Note 1:       For the purposes of this Division, entities that are associates or affiliates of, or connected with, the R&D partnership are taken to be associates or affiliates of, or connected with, the partner (see paragraph (b)).

Note 2:       For the purposes of this Division, payments and agreements made by the R&D partnership for the R&D activities are taken to be made by the partner (see paragraph (c)).



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