Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 355.515

    If one or more * R&D activities are conducted by or for an * R&D partnership 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 R&D activities were conducted by or for the partner in a corresponding way to the way the R&D activities were conducted by or for the R&D partnership; and

  (b)   the partner had relationships with other entities in relation to the R&D activities that corresponded to the relationships the R&D partnership had with those other entities in relation to the R&D activities; and

  (c)   a thing done by, or in relation to, the R&D partnership in relation to the R&D activities were a thing done by, or in relation to, the partner; and

  (d)   the R&D activities were neither:

  (i)   conducted by or for the R&D partnership; nor

  (ii)   conducted by or for any other partner of the R&D partnership; and

  (e)   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 1:   For the purposes of this Division, entities that are associates or affiliates of, or connected with, the R&D partnership are taken to be associates or affiliates of, or connected with, the partner (see paragraph   (b)).

Note 2:   For the purposes of this Division, payments and agreements made by the R&D partnership for the R&D activities are taken to be made by the partner (see paragraph   (c)).