Australia R&D Tax Incentive (Income Tax Assessment Act 1997 Division 355) 355-505-545: ss 355-505 to 355-545 Allocate R&D partnership expenditure, assets, recoupments and results to partners

For a partnership whose partners are all R&D entities, each partner is treated as incurring its agreed proportion (or its share of net income or loss) of the partnership's R&D expenditure and as conducting the activities, deducts its proportion of the decline in value of partnership R&D assets, includes its proportion of the partnership's annual turnover in its aggregated turnover, bears its share of results amounts and recoupments, and none of these amounts enters the partnership's net income or loss.