Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 39HH

             (1)  Subject to section 39HI, if:

                     (a)  an eligible company applies to the Board for advance registration in accordance with section 39HG; and

                     (b)  the company provides to the Board such information in relation to the research and development activities proposed in the application as the Board reasonably requires;

the Board must grant advance registration to the company, in relation to the activities, in respect of the year or years of income to which the application relates.

             (2)  If the Board refuses to register a company in respect of a year or years of income, the Board must give notice in writing to the company stating the reasons for the refusal.

Note:          Advance registration does not remove the need to be registered under section 39J or 39P in order to claim a deduction under section 73B, 73BA, 73BH, 73QA or 73QB, or a tax offset under section 73I, of the Income Tax Assessment Act 1936 for expenditure in relation to research and development activities.