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2009 amendment to the research and development tax credit relates to imputation rules, refunds, transfer of the credit, and clarifies the credit is excluded income.

Sections CX 48D, LH 1(3), LH 2(7), LH 14(B), OB 4(3)(eb), OB 33(5), OB 37, OC 16, OK 2(3)(cb), OK 12(7), OK 13(5), OK 14B, OP 7(3)(fb), OP 30(5), OP 31(5), OP 35, OP 31(5) and OP 35 of the Income Tax Act 2007; sections 108(1B), 173L (2)(bb), 173L (3) and 177B(7) of the Tax Administration Act 1994

The amendments also confirm current policy in relation to the interaction between imputation rules and the R&D tax credit, refunds of the tax credit, effective dates of transfer of the credit, and clarifies that the R&D tax credit is excluded income of the taxpayer. Other amendments to the rules align final dates for filing an R&D tax credit claim, providing supporting information, and amending a tax credit claim, by making them relative to the due date for the initial claim.