Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 39HG

             (1)  An eligible company may, during a year of income, apply to the Board for advance registration, in relation to proposed research and development activities, in respect of all or any of the following years of income:

                     (a)  the first‑mentioned year of income;

                     (b)  the next 2 years of income.

             (2)  The application must:

                     (a)  specify the name of the company; and

                     (b)  specify the year or years of income in respect of which advance registration is sought; and

                     (c)  describe the project to which the proposed research and development activities relate; and

                     (d)  specify and describe the activities; and

                     (e)  specify the expenditure proposed to be incurred by the company in relation to the activities during the year or years of income; and

                      (f)  specify when the activities will be undertaken; and

                     (g)  specify each company on behalf of which the activities will be undertaken.

Note:          A company on behalf of which the activities will be undertaken may be the applicant or a foreign company with which the applicant is grouped under section 73L of the Income Tax Assessment Act 1936 .

             (3)  The application must:

                     (a)  be in a form approved by the Board; and

                     (b)  be accompanied by the appropriate fee (if any) prescribed under section 48A.