Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf an * R&D partnership incurs expenditure on one or more R&D activities during an income year, this Division applies in relation to each * R&D entity that is a partner of the R&D partnership at some time during the income year as if:
(a) the partner incurred the partner's proportion of that expenditure when the R&D partnership incurred that expenditure; and
(b) neither the R&D partnership, nor any other partner of the R&D partnership, incurred expenditure during the income year on the R&D activities; and
(c) such other changes were made to this Division as are appropriate having regard to that partner's proportion of amounts attributable to the R&D partnership.
Note: This section and section 355 - 515 may result in:
(a) the partner being able to deduct the partner's proportion of the partnership expenditure under section 355 - 205 (R&D expenditure) or 355 - 480 (earlier year associate R&D expenditure) for the R&D activities; and
(b) the partner being affected by the integrity rules in Subdivisions 355 - F, 355 - G and 355 - H.