INCOME TAX ASSESSMENT ACT 1997 - SECT 355.535 Disposal of R&D results for R&D partnerships

INCOME TAX ASSESSMENT ACT 1997 - SECT 355.535

    In addition to its application apart from this section, section   355 - 410 (disposal of R&D results) also applies to each partner of an * R&D partnership with such changes as are appropriate having regard to:

  (a)   amounts (the results amounts ) of a kind set out in subparagraphs   355 - 410(1)(b)(i) to (v) that the R&D partnership receives or becomes entitled to receive in an income year; and

  (b)   the principle that any amount to be included in the partner's assessable income for the income year for a results amount should be the partner's proportion of the amount arising under subsection   355 - 410(2) for the results amount.

Note:   The ordinary application of section   355 - 410 will apply to any of the partner's deductions under this Division that do not relate to the R&D partnership.