Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 39EC

             (1)  An eligible company that proposes to incur expenditure in carrying on overseas research and development activities in respect of which it proposes to claim a deduction under section 73B, 73BA, 73BH or 73QA, or a tax offset under section 73I, of the Income Tax Assessment Act 1936  may apply to the Board for a provisional certificate in respect of the activities.

             (2)  The application must:

                     (a)  be in writing; and

                     (b)  describe the project to which the proposed activities relate; and

                     (c)  describe the proposed activities; and

                     (d)  state the respective amounts of expenditure proposed to be incurred by the company on the project that relate to:

                              (i)  Australian research and development activities; and

                             (ii)  overseas research and development activities; and

                            (iii)  if the company proposes to claim a deduction under section 73B, 73BA, 73BH or 73QA, or a tax offset under section 73I, of the Income Tax Assessment Act 1936 in respect of part only of the expenditure on overseas research and development activities--the amount of that part of the expenditure; and

                     (e)  be accompanied by any other information that the Board reasonably requires.