Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A partnership is an R&D partnership at a particular time if, at that time, each of the partners is an * R&D entity.
(2) For an amount attributable to an * R&D partnership for an income year, each partner of the R&D partnership is taken to bear or be entitled to (as appropriate) this proportion (the partner's proportion ) of the amount:
(a) the proportion the partners agreed the partner should bear or be entitled to (as appropriate); or
(b) if there is no such agreement--the proportion of the partner's interest in the * net income or * partnership loss of the R&D partnership for the income year.