Richard Colbeck (Tasmania, Liberal Party, Shadow Parliamentary Secretary for Fisheries and Forestry) Share this | Hansard source

I move request (10) on sheet 7011:

(R10)   Schedule 1, item 1, page 21 (line 8) to page 22 (line 4), section 355-405, omit the item.

The statement of reasons accompany ing the request read as follows—

Amendments (R9) and (R10)

The effect of amendments (R9) and (R10) will be to allow tax deductions for expenditure that was not previously tax deductible as research and development expenditure. This too will increase amounts paid out under a refundable tax offset, which would be met from the standing appropriation in section 16 of the Taxation Administration Act 1953, and the amendments are therefore presented as requests.