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Industry Research and Development Act 1986
27Simplified outline
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#### 27 Simplified outline
The following is a simplified outline of this Division:
• The Board may register an R&D entity for R&D activities conducted during an income year.
• The Board may make findings about the nature of an R&D entity’s activities both before and after registration. This includes findings made on application by the R&D entity after registration.
• These findings bind the Commissioner for the purposes of any entitlement of the R&D entity to a tax offset under Division 355 of the Income Tax Assessment Act 1997 for the activities.
• The Board will register an R&D entity’s activities consistently with any findings made about the entity’s application. Any findings made about these activities after registration will, if necessary, automatically vary the entity’s registration.
• Registrations can also be varied and revoked.