Re GHP 104 160 689 PTY LTD v FCT [2014] AATA 515 – The AAT allowed most of a taxpayer’s claims for R&D expenditure at the 125% rate, but disallowed other claims in respect of overlapping expenditure. The case concerned R&D “feedstock expenditure” by a mining company. The ATO said it accepts the Tribunal’s decision and will adopt its reasoning, where applicable, for the purposes of construing the definition of “feedstock expenditure” in former s 73B(1) of the ITAA 1936.
[LTN 1, 5/1/15]