Part 7

Know-how allowances
Chapter 1

Introduction

Know-how allowances
452
1
Allowances are available under this Part if a person incurs qualifying expenditure on the acquisition of know-how.
2
In this Part “know-how” means any industrial information or techniques likely to assist in—
a
manufacturing or processing goods or materials,
b
working a source of mineral deposits (including searching for, discovering or testing mineral deposits or obtaining access to them), or
c
carrying out any agricultural, forestry or fishing operations.
3
In subsection (2)(b)—
a
“mineral deposits” includes any natural deposits capable of being lifted or extracted from the earth and for this purpose geothermal energy is to be treated as a natural deposit, and
b
“source of mineral deposits” includes a mine, an oil well and a source of geothermal energy.

Know-how as property
453
1
Know-how is to be treated as property for the purposes of this Act.
2
References in this Act to the purchase or sale of property include the acquisition or disposal of know-how.