Section DB 36 — Income Tax Act 2007: Patent expenses

DB 36 Patent expenses Deduction (1) A person is allowed a deduction for expenditure that they incur in connection with the grant, maintenance, or extension of a patent if they— (a) acquired the patent before 23 September 1997; and (b) use the patent in deriving income in the income year in which they incur the expenditure. Link with subpart DA (2) This section overrides the capital limitation. The general permission must still be satisfied and the other general limitations still apply. Defined in this Act: capital limitation , deduction , general limitation , general permission , income , income year , Compare: 2004 No 35 s DB 28