Section EJ 22 — Income Tax Act 2007: Deductions for market development: product of research, development

EJ 22 Deductions for market development: product of research, development When this section applies (1) This section applies when a person is allowed a deduction for expenditure under section DB 34 (Research or development) that is not interest and is incurred— (a) on market development for a product that has resulted from expenditure incurred by the person on research or development; and (b) before the person begins commercial production or commercial use of the product. Choice for allocation of deduction (2) The person may choose to allocate under section DB 34(7) all or part of the deduction to an income year— (a) after the income year in which the person incurs the expenditure; and (b) in the way required by section EJ 23 . Defined in this Act: deduction , development , income year , research , Compare: 2004 No 35 s EJ 20