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

by leave—I move opposition amendments (20) to (22) together:

(20)   Schedule 2, item 1, page 47 (line 3) to page 48 (line 31), omit sections 27A and 27B, substitute:

27A Registering R&D entities for R&D activities

(1)   The Board must, on application by an R&D entity, decide whether to register or refuse to register the entity for one or more specified R&D activities for an income year.

Note 1:   A decision under this subsection is reviewable (see Division 5).

Note 2:   For requirements of applications, see section 27D.

(2)   If the Board decides under subsection (1) to register the R&D entity, the Board must do so consistently with:

  (a)   any findings already in force under subsection 27B(1) in relation to the application; and

  (b)   any findings already in force under subsection 28A(1) (advance findings about the nature of activities) in relation to the R&D entity.

27B Findings about applications for registration

(1)   The Board may make one or more findings in relation to an R&D entity's application for the purposes of subsection 27A(1) to the effect that all or part of the activities satisfy the definition of R&D activities in section 355-20 of the Income Tax Assessment Act 1997.

Note:   A finding is reviewable (see Division 5).

(2)   If the Board makes a finding under subsection (1) in relation to the R&D entity's registration, the Board may specify in the finding the times to which the finding relates.

Example:   A finding under subsection (1) could specify the times during the registration year that a registered activity was an R&D activity.

(3)   This section has effect subject to section 32B (findings cannot be inconsistent with any earlier findings).

(21)   Schedule 2, item 1, page 52 (lines 3 to 37), omit section 27J, substitute:

27J Findings about a registration

(1)   The Board may make one or more findings about an R&D entity's registration under section 27A for an income year to the effect that all or part of the activities satisfy the definition of R&D activities in section 355-20 of the Income Tax Assessment Act 1997.

Note:   A finding is reviewable (see Division 5).

(2)   If the Board makes a finding under subsection (1) in relation to the R&D entity's registration, the Board may specify in the finding the times to which the finding relates.

Example:   A finding under subsection (1) could specify the times during the registration year that a registered activity was an R&D activity.

(3)   This section has effect subject to section 32B (findings cannot be inconsistent with any earlier findings).

(22)    Schedule 2, item 1, page 56 (line 20) to page 57 (line 3), omit subsection 28A(1), substitute:

(1)   The Board must, on application by an R&D entity for a finding under this subsection about an activity, either:

  (a)   find that all or part of the activity satisfies the definition of R&D activities in section 355-20 of the Income Tax Assessment Act 1997 for which the entity has been or could be registered under section 27A for an income year; or

  (b)   find that all or part of the activity does not satisfy the definition of R&D activities in section 355-20 of the Income Tax Assessment Act 1997 for which the entity has been or could be registered under section 27A for an income year.

These are administrative changes relating to the application by an R&D entity to decide whether to register or refuse to register for one or more specified R&D activities in one year.