Taxation Laws Amendment (Venture Capital) Act 2002 (136 of 2002)
Schedule 2 Flow-through treatment, and related matters
Income Tax Assessment Act 1997
21 Subsection 9-5(2) (note)
Repeal the note, substitute:
Note 1: The Commissioner can allow an entity to adopt an accounting period ending on a day other than 30 June. See section 18 of the Income Tax Assessment Act 1936.
Note 2: An accounting period ends, and a new accounting period starts, when a partnership becomes, or ceases to be, a VCLP, an AFOF or a VCMP. See section 18A of the Income Tax Assessment Act 1936.