Commentary on Sections Glossary History Section 437: Research and development allowances
1515.This section is based on section 139(1)(a) of CAA 1990.
1516.Subsection (1) provides that qualifying expenditure on R&D is needed before allowances can be made.
1517.Subsection (2) gives the extended meaning of “research and development” in this Part to include oil and gas exploration and appraisal.