• Specific Year
    Any

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 28C Findings about activities to be conducted outside Australia

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 28C

Findings about activities to be conducted outside Australia

  (1)   The Board must, on application by an R&D entity for a finding under this subsection about an activity, do one or more of the following:

  (a)   find that all or part of the activity is an activity (the overseas activity ) that meets the conditions in section   28D;

  (b)   find that all or part of the activity is not an activity that meets the conditions in section   28D;

  (c)   if justified in accordance with the decision - making principles--refuse to make a finding about all or part of the activity.

Note 1:   A finding, or a refusal to make a finding, is reviewable (see Division   5).

Note 2:   For requirements of applications, see section   28G.

Note 3:   An effect of a finding under paragraph   (a) is that a tax offset may be available for expenditure incurred on the overseas activity after the finding comes into force (see Division   355 of the Income Tax Assessment Act 1997 , in particular paragraphs 355 - 210(1)(d) and (e) of that Act).

Note 4:   Section   32A deals with the decision - making principles.

  (2)   For the purposes of this Act and the Income Tax Assessment Act 1997 , a finding under subsection   (1) comes into force at the start of the income year in which the application for the finding is made.

  (3)   This section has effect subject to section   32B (findings cannot be inconsistent with any earlier findings).