Section 37: Research and development costs.

(1) Subject to subsection (2), a deduction is allowed for expenditure on research and development incurred in orincidental to the production of assessable income. (2) Subsection (1) not apply to any expense incurred in ascertaining the existence, location, extent or quality of a natural deposit or for the acquisition of depreciable assets or land. (3) Expenditure in this section not relieved due to there being no business in the year of expenditure shall be treated as start-up costs under Section 43. Expenses in respect of pension and annuity payments.