46
In forceLiability to taxation
Part 2Research and Development Corporations
Division 5Finance
46 Liability to taxation
(1)
An R&D Corporation is subject to taxation (other than income tax) under the laws of the Commonwealth.
(2)
Subject to subsections (3) and (4), an R&D Corporation is not subject to taxation under a law of a State or Territory.
(3)
The regulations may provide that subsection (2) does not apply in relation to:
(a)
a specified law of a State or Territory; or
(b)
laws in a specified class of laws of a State or Territory.
(4)
Stamp duty under the law of a State or a Territory is payable by an R&D Corporation in respect of transactions entered into by, and instruments and documents executed by or on behalf of, the Corporation.
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